Climate crisis
New law: US state of New York asks climate sinners to pay
Climate change causes environmental changes such as floods and droughts. In the state of New York, oil companies are expected to pay billions in the future.
In the future, the US state of New York wants to financially prosecute oil and gas companies for their shared responsibility for the climate crisis. This is provided for by a new law that came into force on Wednesday with the signature of Governor Kathy Hochul. Over the next 25 years, large oil and gas companies will pay a total of $75 billion (around €72 billion) into a new fund, according to a statement.
This is intended to finance measures that are necessary in New York State to adapt to the effects of climate change, it continues. These include, among other things, investments in coastal and flood protection.
Almost every new rain record, every heat wave and every coastal storm costs the people of New York state billions of dollars, the governor says, according to a statement. It is said that the aim of the law is to hold the biggest climate sinners accountable and relieve the burden on taxpayers.
dpa
Source: Stern
