Vermont Enacts Landmark Law Making Oil Companies Pay for Climate Damages

Vermont has become the first state to pass a law requiring fossil fuel companies to pay for climate change damages through the Climate Superfund Cost Recovery Program. The law, which went into effect without Governor Phil Scott's signature, mandates that companies responsible for emitting over 1 billion metric tons of greenhouse gases from 1995 to 2024 contribute to a fund aimed at climate adaptation and resilience. The law is expected to face legal challenges from the oil and gas industry.