Vermont and New York have pioneered Climate Superfund laws requiring energy companies to finance climate disaster responses, alleviating taxpayer burdens from extreme weather consequences.
Kassie Siegel notes that current costs of climate disasters are unfairly shouldered by taxpayers, and such laws could shift financial responsibility to energy companies.
The legal landscape for these laws is fraught with uncertainty, particularly with the U.S. Chamber of Commerce and American Petroleum Institute already challenging Vermont's regulations.
Unlike traditional Superfund policies, climate superfund laws aim to quantify economic losses through scientific assessments of climate change impacts and corporate responsibility.
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