In historic move, Vermont becomes 1st state to pass law requiring fossil fuel companies to pay for climate change damages
CBSN
Vermont has passed a first-in-the-nation law that will require "Big Oil" to pay for damage caused by climate change, the long-term shift in weather patterns that is heavily influenced by fossil fuel emissions.
Vermont Gov. Phill Scott sent a letter to the state's General Assembly on Thursday allowing the measure, which proposes to establish the Climate Superfund Cost Recovery Program, to become law without his signature. In that letter, Scott said that "taking on 'Big Oil' should not be taken lightly."
"With just $600,000 appropriated by the Legislature to complete an analysis that will need to withstand intense legal scrutiny from a well-funded defense, we are not positioning ourselves for success," he said. "I'm deeply concerned about both short- and long-term costs and outcomes."
