New York to fine fossil fuel companies $75 billion under new climate law

New York will fine fossil fuel companies $75 billion over 25 years under a new law signed by Governor Kathy Hochul, aiming to shift climate recovery costs from taxpayers to oil, gas, and coal companies.

Funds will be used to upgrade infrastructure and mitigate climate impacts.

Companies responsible for over 1 billion tons of greenhouse gas emissions between 2000 and 2018 will pay into a Climate Superfund starting in 2028.

Modeled after federal superfund laws, New York follows Vermont in holding polluters financially accountable, Reuters has reported.

read more: https://finance.yahoo.com/news/york-fine-fossil-fuel-companies-200119198.html?guccounter=1&guce_referrer=aHR0cHM6Ly9uZXdzLmdvb2dsZS5jb20v&guce_referrer_sig=AQAAAG9SihADAh_8hOe4Or8noJXhrDoe7uuz5snnL7NQm7lg-cXZhmUE9Oau1YC8nMLcm_RnVTfd8qDSQCx6i09QTDItG6Tm7JjSUZwqNV1eUbhbc-51yNPCr4DSBjN5So9LL4Etk5UrGz99UzN60YR2OZKHmyELJOSTK4UCT-MObMVm

Links for B.C.

Visit My Website
https://bcbegley.com

Follow Me On Facebook
https://www.facebook.com/B.C.Begley

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley

Follow Me On Truth Social
https://truthsocial.com/@BC_Begley

Follow Me On BlueSky
https://bsky.app/profile/bcbegley.bsky.social

#NewYork