Companies Could Pay Billions Under NY Climate Superfund Law (2)

New York Gov. Kathy Hochul (D) signed a law that allows the state to charge fossil fuel companies billions for climate change damage, marking a win for activists, dealing a blow to energy giants, and opening the door to litigation.

With the Climate Change Superfund Act across the finish line, New York is now the second state with a “climate Superfund” law. The legislature passed the bill in June and Hochul signed it Thursday.

The law orders the state’s top polluters to pay an estimated $75 billion over 25 years to help New York’s infrastructure better withstand flooding and other ...