Tuesday, April 29, 2025

Domestic Superfund for Loss&Damage? Vermont could become the first U.S. state to force major emitters to pay for climate-related damages.

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As we speak is Friday, Could 24, 2024.

The world is seeing increasingly extremely damaging and horrifying meteorological occasions in locations by no means seen earlier than: excessive warmth waves, damaging waters, damaging winds, hail the scale of footballs, and so forth.

And relying on how highly effective – or not – the impacted jurisdiction is, it might find yourself in a David and Goliath scenario.

Em July 2023 last, the usually sizzling and humid summer season of New England, northeastern United States, was disrupted by a collection of extraordinarily sturdy rain storms. Flash floods broke riverbanks and destroyed roads, flooding a number of cities and cities. Vermont specifically suffered immense harm, as you may see within the doc “Vermont. Atlas of Disaster” by clicking on the picture beneath.

Taxpayers world wide – who in some international locations are referred to as “taxpayers” – have felt an rising burden ensuing from the impacts of local weather change. The US Environmental Safety Company at present estimates the social price of carbon at US$190 per ton. Check out this November 2023 report.

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On May 10, the Vermont Senate approved historic legislation in the last round that makes the largest fossil fuel companies financially responsible for part of the costs of climate change. Senators approved the so-called Climate Superfund Act (S.259). Previously, 106 of the 150 members of the House of Representatives had already voted in favor of the legislation.

This legislative outcome, with significant support in both chambers, reflects national public opinion. One December 2023 survey confirmed that 66% of voters in america (USA) assist polluters paying for the implications of their actions.

New York, Massachusetts, California and Maryland are different states the place lawmakers are additionally pushing for comparable laws to introduce local weather superfund payments.

Again in Vermont, the native governor can now take 3 paths: veto the invoice, signal it or take no motion. If he takes no motion, the invoice will robotically turn out to be regulation after 5 days. If he vetoes, the Legislature might annul the measure in June.

The sort of regulation will definitely face authorized challenges, however its supporters say the invoice is a pioneering try to make use of science as a method of accountability.

Clique here or here in case you are fascinated about monitoring Vermont invoice S.259.

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