New York strikes back: Climate sinners have to pay 72 billion euros!

New York strikes back: Climate sinners have to pay 72 billion euros!

In the fight against climate change, New York has taken a pioneering step. Governor Kathy Hochul signed a law that asks oil and gas companies for the cash register. Over the next 25 years, these will have to deposit a total of around 72 billion euros in the newly created "Climate Superfund" in order to pay their share in the devastating consequences of climate change. This law stipulates that companies that have emitted over a billion tons of greenhouse gases between 2000 and 2018 are held responsible, which is second to Vermont, which implemented such a law as reported by today.at.

financing of climate protection measures

The income from this fund should be crucial to finance necessary investments in New York's infrastructure, including projects for coastal protection and to adapt to extreme weather events. Governor Hochul emphasized that the citizens of New York have to suffer from the consequences of record rain, heat waves and storms and have enormous financial burdens. "It is time that the large dirters pay their fair proportion," she wrote on X and emphasized that taxpayers should be relieved with the funds. This determined action is an important step towards climate justice and shows that New York no longer wants to ignore the biggest environmental polluters, as time reports.