Home · Business · Sep 20 archive
New York's Climate Liability Law Struck Down
Developing
In Short: Chief Judge Brenda Sannes of the US District Court for the Northern District of New York struck down New York's 'climate superfund' law in a 63-page decision, deeming it 'unusual and sweeping'.
Chief Judge Brenda Sannes of the US District Court for the Northern District of New York struck down New York's 'climate superfund' law in a 63-page decision, deeming it 'unusual and sweeping'.
The ruling cited the Second Circuit’s 2021 decision in City of New York v. Chevron, where New York sought climate-change damages from oil companies.
The Climate Change Superfund Act, enacted last year, aimed to mandate firms responsible for significant carbon emissions between 2000 and 2024 to pay approximately $3 billion annually for 25 years.
The law's intent was to hold major polluters financially accountable for their contributions to climate change, but Judge Sannes found it overreached state authority.
What this adds
The ruling underscores the legal challenges states face in implementing climate liability laws.
What's still developing
- Hochul has not yet said whether New York state plans to appeal the decision.
Sources
- Crude Oil Prices Today | OilPrice.comlink