Oil companies may soon have to pay for Vermont’s climate recovery
Enlarge / Ripton, VT - July 16, 2023: Ethan Poploski stood in front of his family's home, which had been destroyed by a landslide overnight. (credit: Boston Globe / Contributor | Boston Globe)
Vermont may soon become the first state to force fossil fuel companies to pay their fair share to cover recovery efforts from climate change damages. This week, the state's potentially groundbreaking law passed a preliminary vote in the Senate, where a final vote is expected soon that would likely send the law to the governor's desk. And there's reportedly broad enough support to override any attempt to veto the law.
By passing a law that mimics the Environmental Protection Agency's Superfund program-which "forces the parties responsible for the contamination" of lands "to either perform cleanups or reimburse the government for EPA-led cleanup work"-Vermont hopes to create a Climate Superfund Cost Recovery Program.
If enacted, the law could end up costing fossil fuel companies billions for climate damages in Vermont alone and serve as a model for other states similarly seeking to combat their worst impacts.