Gov. Hochul signs law to make fossil fuel companies pay for climate resilience projects

ALBANY, N.Y. — Gov. Kathy Hochul has signed a bill that requires fossil fuel companies to pay for climate change resilience projects.

The legislation creates a “Climate Superfund” to pay for infrastructure projects aiming to protect state residents from climate change’s impacts such as flooding, coastal storms, and extreme heat. Some of those projects may include coastal protection and flood mitigation systems.

Hochul said the bill aims to hold polluters accountable for releasing carbon emissions and contributing to climate change.