New York Gov. Hochul signs law requiring companies responsible for pollution to pay climate costs

New York Democratic Gov. Kathy Hochul on Thursday signed a law that requires companies responsible for high amounts of pollution to contribute to climate change repair efforts.

The new law is modeled after the federal Superfund law, which was invoked last year in East Palestine, Ohio, after a disastrous train derailment, and requires companies that cause pollution to cover costs associated with cleaning it up. In East Palestine, the Environmental Protection Agency forced the company that carried hazardous materials to pay for the clean-up.

Under the new law, companies that are responsible for most of the emissions between the years 2000 and 2018 will need to pay approximately $3 billion a year over the next 25 years, according to The Hill.

“Too often over the last decade, courts have dismissed lawsuits against the oil and gas industry by saying that the issue of climate culpability should be decided by legislatures,” the bill's co-sponsor, Democratic state Sen. Liz Krueger, said in a statement. 

“Well, the Legislature of the State of New York — the 10th largest economy in the world — has accepted the invitation," she continued. "I hope we have made ourselves very clear: the planet’s largest climate polluters bear a unique responsibility for creating the climate crisis, and they must pay their fair share to help regular New Yorkers deal with the consequences.”

New York is now the second state with such a law, after Vermont passed a similar measure earlier this year. 

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.