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Ulster County Executive Eve Metzger has praised Governor Kathy Hochul for signing the Climate Superfund Act, a new law that shifts the financial burden of climate resilience projects from taxpayers to large polluters. The law requires major fossil fuel companies to contribute to a fund supporting climate resilience projects across New York. Metzger emphasized the importance of the fund for Ulster County, which is vulnerable to flooding and other climate impacts.
The Climate Superfund Act mandates that thirty to forty of the largest multinational oil, gas, and coal companies pay $75 billion over 25 years to New York State. This money will be used to help localities pay for climate-adaptive infrastructure, such as coastal protections and improved stormwater drainage systems. The law aims to hold companies like Exxon and Saudi Aramco accountable for their emissions, rather than passing costs onto residents and local businesses.
According to Protecting America, this act is crucial as New York has faced numerous climate-related disasters, with FEMA allocating over $17 billion in assistance between 2011 and 2021.
Metzger has been proactive in addressing climate issues in Ulster County, previously issuing an executive order to reduce greenhouse gas emissions and invest in green jobs and clean energy. The county's climate goals align with the state's ambitious plan to decarbonize its economy by 2050.