New York Gov. Targets Fossil Fuel Companies With Fees For Climate Change
2 weeks ago
New York Governor Kathy Hochul is targeting large fossil fuel companies by making them pay fees to help fight the effects of climate change.
Under a bill signed by the Democrat governor companies who Hochul says are responsible for substantial greenhouse gas emissions will be required to pay into a state infrastructure fund for repairs or projects that help avoid future damage from climate change.
Lawmakers approved the bill earlier this year. It's meant to make big oil and gas companies contribute to the cost of repairs after extreme weather events or for resiliency projects. Such projects may include restoring coastal wetlands or upgrading roads, bridges and water drainage systems. Legal challenges to the new law are expected.
Under a bill signed by the Democrat governor companies who Hochul says are responsible for substantial greenhouse gas emissions will be required to pay into a state infrastructure fund for repairs or projects that help avoid future damage from climate change.
Lawmakers approved the bill earlier this year. It's meant to make big oil and gas companies contribute to the cost of repairs after extreme weather events or for resiliency projects. Such projects may include restoring coastal wetlands or upgrading roads, bridges and water drainage systems. Legal challenges to the new law are expected.
