Advocates for climate change laws — including Bronx residents — gathered outside Gov. Hochul’s Manhattan office on Aug. 2, urging her to sign the Climate Change Superfund Act, which would require fossil fuel companies to share the cost of climate change mitigation.
The act, which passed through the state Legislature in June, would require polluting companies to pay a combined $3 billion per year over the next 25 years. It was co-sponsored by Sen. Liz Krueger and Assembly Member Jeffrey Dinowitz, who represents the northwest Bronx — and now only requires Hochul’s signature to become law.
“For decades [fossil fuel companies] have been knowingly polluting our atmosphere to maximize their profits, and they continue to do so,” Dinowitz said in a 2023 statement announcing the bill’s passage in the Assembly.
Extreme heat linked to climate change is a deadly problem, contributing to the death of approximately 350 New Yorkers per year — most often in their own homes, according to city environmental data.
On the sweltering day of the rally, demonstrators brought handheld fans and a kiddie pool for children in attendance. Sarah Fecht lives in the Pelham Parkway neighborhood and spoke as a member of the advocacy group Climate Families NYC.
“This summer of endless heat waves is going to be one of the coolest summers of my kids’ lives,” said Fecht, who has 3-year-old twins. The climate crisis isn’t a distant problem for future generations, she said. “It’s here now.”
‘Big oil made this mess’
If the law is enacted, one of the most potentially affected oil companies, Saudi Aramco, is estimated to pay the state $644 million per year, or about 2% of its 2020 first-quarter profits, according to the co-sponsors. Other major oil companies like Exxon and Shell could pay around $150 million annually.
But the law could wind up in the courts, as appears likely in Vermont, which recently became the first state to pass a law requiring oil companies to share climate change-related costs.
As New York looks to become the second such state, the costs of dealing with climate change has mainly fallen on local governments, according to an April 2023 report by State Comptroller Thomas DiNapoli.
“Local governments are shouldering much of the financial burden of climate change as they maintain important infrastructure such as roadways, drinking water systems and sewers,” DiNapoli said.
In 2023, New York taxpayers spent $2.2 billion, or about $300 per household, for infrastructure repairs and resilience projects, according to the nonprofit Food & Water Watch.
“Instead of making New Yorkers wait for hours to splash in crowded, underfunded pools to keep cool, Hochul should be splashing corporate cash and making polluters pay for real solutions to climate-driven extreme weather,” said Food & Water Watch New York State Director Laura Shindell.
The bill’s co-sponsor was in full agreement over where to assign the blame.
“Big oil made this mess, and they should be the ones to pay the price and clean it up,” said Dinowitz.
Reach Emily Swanson at eswanson@schnepsmedia.com or (646) 717-0015. For more coverage, follow us on Twitter, Facebook and Instagram @bronxtimes
