Enhancing Environmental Protection: NYS Climate Superfund

Thursday, December 26, 2024 legislation was signed by New York State Governor Kathy Hochul that is designed to bolster New York’s efforts to protect and restore the environment.

This legislation will require large fossil fuel companies to pay for critical projects that protect New Yorkers. According to the announcement, this will create a climate superfund to support New York-based projects that bolster New York’s resiliency to dangerous climate impacts like flooding and extreme heat.

With nearly every record rainfall, heatwave, and coastal storm, New Yorkers are increasingly burdened with billions of dollars in health, safety, and environmental consequences due to polluters that have historically harmed our environment. Establishing the Climate Superfund is the latest example of my administration taking action to hold polluters responsible for the damage done to our environment and requiring major investments in infrastructure and other projects critical to protecting our communities and economy. - New York State Governor Kathy Hochul

Also this week, Governor Hochul signed legislation that will expand on New York's 2014 prohibition of high-volume hydraulic fracturing to extract natural gas. The Governor's announcement notes that this legislation will amend the State Environmental Conservation Law to prohibit the use of carbon dioxide in gas or oil extraction to prevent potential negative health or environmental effects from carbon dioxide fracking in the state.

This is a significant win for our region and state, protecting our environment, our water, and the health of our communities from the harmful and uncertain impacts of CO2 fracking. I want to thank the advocates who have fought hard for this measure, Assemblymember Kelles, my Assembly and Senate partners, Senate Majority Leader Stewart Cousins, and Governor Hochul for signing this into law, continuing our leadership in advancing New York’s sustainable and environmentally conscious policies” - New York State Senator Lea Webb

The climate agenda for New York State is to create an affordable transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities.

The Governor's Office adds that New York State's goal is advancing several efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation, and waste sectors.