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Vermont leads efforts to make oil companies pay for climate damages
Vermont has become the first state to pass a law requiring fossil fuel companies to cover the costs of climate-related disasters, with other states poised to follow.
In short:
- Vermont's law, effective July 1, charges fossil fuel companies based on their historical greenhouse gas emissions.
- New York, California, Maryland, Massachusetts and New Jersey are considering similar measures, with New York's pending governor approval.
- The oil industry is preparing legal challenges, arguing the bills are based on unreliable science.
Key quote:
“There’s a wealth of information out there dating back before 1995 indicating that the [oil] industry knew of the risks associated with its products.”
— Elena Mihaly, vice president of Conservation Law Foundation Vermont
Why this matters:
As climate change worsens, states are seeking ways to hold fossil fuel companies financially responsible for damages, potentially setting a precedent for nationwide efforts. These initiatives could face significant legal and political hurdles.
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Outdated FEMA flood maps leave billions in damages uninsured
Hurricane Debby caused nearly $10 billion in uninsured damages due to outdated FEMA flood maps that failed to reflect current flood risks.
In short:
- Over 75% of properties damaged by Hurricane Debby were outside areas requiring flood insurance.
- FEMA's flood maps are outdated, with some over 50 years old, leaving many homes unprotected.
- Resistance from developers and local governments has stalled updates to the National Flood Insurance Program.
Why this matters:
As climate change increases flood risks, millions of Americans are vulnerable to catastrophic losses without the necessary insurance, risking severe financial and societal impacts.
Related EHN coverage:
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Michigan to seek damages from oil companies for climate impacts
Michigan's Attorney General Dana Nessel is initiating a lawsuit against fossil fuel companies to recover losses due to climate change impacts, marking a significant legal move.
In short:
- Dana Nessel aims to hold oil companies financially accountable for their role in exacerbating climate change, which has affected Michigan's economy and lifestyle.
- The state plans to join other governments in litigation efforts, seeking to compensate for damages like severe weather and economic downturns.
- External legal teams are being solicited to support the extensive legal battle, with a potential to secure billions in damages.
Key quote:
"It’s long past time that we step up and hold the fossil fuel companies that are responsible for all these damages accountable."
— Dana Nessel, Michigan Attorney General
Why this matters:
This legal move mirrors a growing trend where states leverage the judicial system to address environmental and public health issues directly tied to climate change. By focusing on the fossil fuel industry, which has historically played a significant role in greenhouse gas emissions, Nessel aims to not only secure financial compensation for the state but also push for greater corporate accountability and transparency in environmental practices.
Also see:
- How the car and gas industry knew about the health risks of leaded fuel but sold it for 100 years anyway.
- Plaintiffs in the recently dismissed Held vs Montana argue: “We are entitled to a ‘clean and healthful’ environment. Montana’s policies are endangering that.”
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Climate change added $8 billion to Hurricane Sandy's damages
Though scientists have long known global warming is exacerbating such events by raising sea levels, a new study has now calculated just how much of Sandy's bill can be charged to climate change: about $8 billion.
Hurricane Michael shows why the military is unprepared for extreme weather
The military says climate change is a "threat multiplier." It’s still struggling to prepare for those threats.
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