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New York Gov. Hochul signs law requiring fossil fuel companies to pay for natural disaster cleanup

  • Large fossil fuel companies must pay fees to help New York combat climate change, as mandated by a law signed by Governor Kathy Hochul.
  • The new law requires companies with significant greenhouse gas emissions to contribute to a state fund for climate resilience projects.
  • The Climate Change Superfund Act aims to hold major polluters accountable for their role in the climate crisis, according to State Senator Liz Krueger.
  • The American Petroleum Institute criticized the law, calling it a punitive fee on American energy and stated they are evaluating their options moving forward.
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Oil and Gas SectorOil and Gas Sector
Kathy HochulKathy Hochul
New York State PoliticsNew York State Politics
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