Large fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed Thursday by Gov. Kathy Hochul. The new law requires companies responsible for substantial greenhouse gas emissions to pay into a state fund for infrastructure projects meant to repair or avoid future

New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law on Thursday. The law is intended to shift some of the recovery and adaptation costs of climate change from individual taxpayers to oil,

New York is making polluters pay up. A landmark law signed by Gov. Kathy Hochul on Thursday, Dec. 26, created a “Climate Superfund” requiring large fossil fuel companies to pay for critical projects aimed at protecting residents from severe weather impacts like flooding and extreme heat.