Vermont // Image: Sam Buriss / Unsplash
Vermont becomes the first American state to force oil giants to pay to repair the damage caused by climate change. The text called “ Climate Superfund Act » has just been adopted. This may be an important turning point in the transition to renewable energy.
Vermont is leading the way with its Climate Superfund Act
With this new law, Vermont is making history. THE Climate Superfund Act allows the state in the northeastern United States to request financial compensation from companies that exploit fossil fuels (oil, gas and coal). Industry giants will have to pay for the damage caused by climate change.
The local government specifies that they may be called upon in various cases. For example, they will have to put their hands in their pockets to repair infrastructure damaged by extreme weather phenomena. Vermont authorities will also be able to encourage them to invest in renewable energies or to support communities affected by disasters linked to climate change. The state is regularly affected by high intensity flooding.
The law aims to “ create a new financial mechanism to cover the costs of adaptation to climate change “. This is an important change for Vermont’s environmental policy and could give ideas to other states in Uncle Sam’s country. Especially since in 2024, scientists estimate that it is possible to assign a climate change catastrophe.
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Dartmouth College researchers told lawmakers it was “ scientifically possible to determine the extent to which climate change contributes to the increased frequency and severity of extreme weather events “. The passage of this law highlights the critical role state governments can play in this fight.
The oil giants are not going to let this happen
If the law has been adopted, the Climate Superfund Act is nevertheless the subject of some dispute. Phil Scott, the governor of Vermont, even refused to put his signature. He explained to lawmakers that he was “ deeply concerned about short- and long-term costs and outcomes “. According to him, a failure in legal challenges could “ hinder the ability of other states to obtain damages “.
L’American Petroleum Institute, the main lobby for oil companies in the United States, has already announced its intention to challenge the law in court. The organization believes that the law imposes costs and responsibilities “ to previous activities which were then legal “. According to them, the text “ holds businesses accountable for the actions of society as a whole “.
If Vermont resists and other states follow suit, it would be a big victory for the climate. This would likely accelerate the transition to renewable energy.
