Read the story at KQED Public Radio, “Proposition 4: California Approves $10 Billion Climate Bond,” by Ezra David Romero—November 6, 2024. “Californians overwhelmingly supported Proposition 4, a $10 billion climate bond to help the state prepare and adapt for the impacts of climate change. With more than half the votes counted, nearly 58% of votes favored the bond…. Proponents of the environmental bond, including Gov. Gavin Newsom, argued over the course of the campaign that it could prevent billions of dollars in damages from extreme storms, wildfires, drought, and rising sea levels... ‘With so much at stake, we’re eager to see a positive result that enables California to lead on climate action and secure a greener, more equitable future for our communities,’ said Mike Young, senior political and organizing director with California Environmental Voters… Lawmakers ultimately crafted a measure that funds work in eight key areas: water, wildfires, coastal resilience, nature-based solutions, clean air, outdoor access, extreme heat and climate-smart working lands. The bond also sets aside $475 million for offshore wind. ‘It prioritizes and enables robust, decisive action to advance our climate goals and enhance community resilience against climate impacts,’ said state Senate Majority Leader Lena Gonzalez (D-Long Beach)…” See the full story below and at this link. https://lnkd.in/gdjTawVG #offshorewind #floatingwind #cleanenergy #renewables #climate #offshorewindca #pacificoffshorewindsummit
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We at Earth Responsibility Score applaud the recent passage of the Climate Change Superfund Act by New York legislators. This landmark bill, if signed into law by Governor Kathy Hochul, will require fossil-fuel companies to contribute $3 billion annually for the next 25 years to address the costs associated with climate change. This bold move positions New York as a leader in climate accountability, following in the footsteps of the first state to enact similar legislation. It sends a clear message: the financial burden of climate impacts must be shared by those contributing to the problem. As extreme weather events become more frequent and severe, such as the record-setting rain that recently overwhelmed New York City's sewer system, it is imperative to hold major polluters responsible for their role in environmental degradation. This act is not just about funding climate mitigation; it's about fostering a sense of responsibility and driving meaningful change in corporate practices. At Earth Responsibility Score, we are committed to promoting sustainable business practices and ensuring that companies are held accountable for their environmental impact. We hope to see more states and countries adopting similar measures to ensure a healthier planet for future generations. #ClimateAction #Sustainability #CorporateResponsibility #EnvironmentalImpact #EarthResponsibilityScore #ClimateSuperfundAct
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Vermont is moving forward with a Climate Superfund Act, the first of its kind to quantify the economic effects of climate change on Vermont citizens and attribute costs to oil and energy companies that the State deems liable. The legislation is modeled after the EPA's superfund program forcing companies to pay for the remediation & cleanup for environmental damage they inflicted. While this is noble, maybe too much, it's pretty hard to imagine how little Vermont State can accurately and quantify the attributable damage to Vermont citizens and then enforce punitive penalties on companies with global scale and support of larger, often international governing bodies. https://lnkd.in/ezRAdWK3
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Vermont becomes the first state to require big oil to pay for their climate damages. This is The Climate Superfund Act. 👏 “Under the legislation, the Vermont state treasurer, in consultation with the Agency of Natural Resources, would provide a report by Jan. 15, 2026, on the total cost to Vermonters and the state from the emission of greenhouse gases from Jan. 1, 1995, to Dec. 31, 2024.” NPR The act aims to require oil companies to pay potentially billions of dollars for disastrous climate impacts, including impacts on public health, biodiversity, agriculture, economic development and more, caused by their emissions. “Vermont is among the most quickly warming states in the US, and has been pummeled by climate disasters in recent years; last year, floods wreaked more than $1bn in damages.” The Guardian Read the full story:
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NYPIRG in the news: Hochul Pressured to Sign NY Bill Making Big Oil Pay for Climate Adaptation "'The historic legislative approval of the Climate Change Superfund Act,' NYPIRG said, 'is a huge step toward ensuring that Big Oil contributes to the mounting costs of climate catastrophe. Of course, the bill cannot become law without Gov. Hochul's approval, but the act helps protect taxpayers and allows revenues to be made available to contribute toward necessary—but expensive—resiliency projects.'" https://lnkd.in/ekcwZ6vf
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New York is second behind Vermont to pass a Climate Change Superfund Act that will seek to recover costs of damage from greenhouse gas pollution, including remediation costs, from fossil fuel companies. The Climate Change Superfund Act now awaits Gov. Kathy Hochul’s signature. California, Massachusetts and Maryland are considering similar bills. #climate change #Environment #newyork #enr #fossilfuel
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Vermont becomes first state to require big oil to pay for climate damages. Modeled after the Environmental Protection Agency’s Superfund program, the Climate Superfund Act directs the state to charge major fossil fuel companies potentially billions of dollars to pay for climate impacts to which their emissions have contributed. #ClimateAction #ClimateJustice #Climate
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CCA Policy Director, Bill Magavern, has authored a powerful piece in Capitol Weekly, dissecting the recent election’s mixed results for California’s climate future. While the approval of a $10 billion climate bond is a huge win, the return of Trump to the White House poses significant threats to our progress. Bill eloquently outlines the urgent need for California to defend its environmental leadership and protect our communities from pollution and climate change. Dive into the insightful analysis and learn how we can continue to fight for clean air and a sustainable future. Read full OpEd: https://lnkd.in/gKbsxT8m #ClimateAction #CleanAir #California #EnvironmentalLeadership #CoalitionForCleanAir
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I prefer to avoid political discussions, but I find myself feeling disheartened. For the second time, Trump has opted to withdraw from the Paris Agreement, proposing changes that would dismantle U.S. climate regulations, enhance oil and gas production, halt initiatives to promote electric vehicles, and terminate federal land leases for wind energy projects. The United States has a crucial role to play in championing the cause of a sustainable planet. This responsibility stems not only from its status as the largest historical contributor to pollution but also from the immediate consequences that climate change poses to its own citizens. Recent events, such as the devastating wildfires in Los Angeles, highlight the urgent need for action, as these climate-related disasters will likely escalate in the future. Despite the presence of a climate skeptic in the White House, it is premature to declare the end of climate initiatives. A significant portion of the American populace advocates for climate action, and numerous communities, cities, and states are actively pursuing sustainable practices. The fight for environmental protection continues, and with collective effort, success remains within reach. #sustainability #climateaction #ParisAgreement #ClimateChange
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Go Vermont, Go 👏🙏💪 https://lnkd.in/ehSfs4-X The hard fights start now, with 30 lawsuits in the US alone to make Big Oil pay: https://lnkd.in/ezK-FZvb Part of the wider Extended Producer Responsibility (EPR) approach to addressing climate change: https://lnkd.in/etpfgKpX Crossing fingers that EU states will join the fight: https://lnkd.in/eZSeTbyu
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