Vermont Set to Impose Climate Recovery Costs on Fossil Fuel Companies

The groundbreaking legislation could make Vermont the first U.S. state to financially charge major oil companies for climate damages, setting a precedent for nationwide policy.

Vermont's proposed Climate Superfund Cost Recovery Program mirrors the EPA's cleanup initiative, aiming to hold polluters accountable for environmental damage.
The bill, likely to pass despite potential gubernatorial veto, could see fossil fuel companies paying billions for past emissions.
Supporters argue the bill is fair, citing the extensive profits of oil companies juxtaposed with rising climate-related costs in Vermont.
Legal challenges are anticipated, with opponents arguing the retroactive charges are unconstitutional.
Other states, including New York and California, are considering similar measures, indicating a growing trend towards environmental accountability.