Vermont First State to Make Oil Companies Pay for Climate Damages

Vermont has become the first state to require fossil fuel companies to pay for climate change damages, following severe flooding and other extreme weather events. Governor Phil Scott allowed the bill to become law without his signature, expressing concerns about the costs and legal challenges but acknowledging the need for action. The law mandates a report on the costs of greenhouse gas emissions and aims to use the funds for infrastructure upgrades and other climate mitigation efforts. Similar measures are being considered in other states, while the oil industry opposes the legislation.