Last June, New England experienced unprecedented heavy rain storms that caused flash floods, destruction of roads, and inundation of cities and towns. Now, Vermont, Maryland, Massachusetts, and New York are seeking to hold Big Oil accountable for climate change damages. Legislators in these states are proposing bills that would require oil companies to fund expensive climate change impacts, such as energy efficiency retrofits, water utility improvements, solar microgrids, and stormwater drainage. These efforts have garnered support from over 60% of voters nationwide.
The idea is based on precedents, such as the 1998 settlement with Big Tobacco and the federal Superfund legislation of 1980. Despite attempts to introduce similar legislation at the federal level, states have taken the lead. Vermont, in particular, has been hit hard by climate-related damages, with an estimated cost of $5.2 billion during this century. The state is also pursuing legal action against ExxonMobil for misleading consumers about the risks of fossil fuel products.
Other states, like Kentucky, have explored holding fossil fuel companies accountable for damages caused by climate change. However, the road to enforcing such measures won’t be easy. It’s a long process that may face legal battles and challenges in determining responsibility, especially when addressing carbon emissions. Nonetheless, advocates believe it’s a fight worth having and are hopeful that efforts to hold Big Oil accountable will set an example for other states and the nation as a whole.
