The Polluters Pay Climate Superfund Act, introduced as SB 684 (Menjivar) in the Senate and AB 1243 (Addis) in the Assembly, would ensure that polluters pay their fair share for the climate damage they have caused in California. If passed, it will generate funds to invest in energy efficiency, natural systems climate resilience, accelerating the transition to clean energy, building and infrastructure decarbonization, distributed energy generation and storage, and zero-emission transportation and infrastructure, including public transit.
California taxpayers are facing an unprecedented financial burden from the climate crisis. The devastating fires in Los Angeles alone are estimated to cost at least $250 billion. Communities are shouldering unaffordable insurance rates, housing costs, property taxes, utility bills, and medical and health expenses. Unless something changes, Californians will continue to suffer the burden of escalating, multibillion-dollar costs.
The climate crisis is a fossil fuel crisis. A small number of the world’s largest corporations have emitted the bulk of the global pollution, raking in billions in profits while we all pay the price.
The Polluters Pay Climate Superfund Act identifies and assesses a fee on the world’s largest fossil fuel polluters, proportional to their emissions since 1990, which is decades after their own scientists warned them of the dire consequences their products would inflict on humanity.
This bill will direct the California Environmental Protection Agency (CalEPA) to complete a climate cost study of total damages to the state through 2045 caused by fossil fuel emissions. The agency will identify responsible parties and assess compensatory fees on the largest fossil fuel polluters. The fees collected will fund projects and programs to mitigate climate disasters and remedy or prevent climate-related costs and harms. This bill prioritizes labor and job standards and dedicates at least 40 percent of the funds to benefit disadvantaged communities.
With the passage of SB 684 and AB 1243, California will join Vermont and New York as the first states to enact climate superfund laws.
Committee location: Will be heard in the Senate Environmental Quality Committee on April 2.
Urge your Senator to support the Polluters Pay Climate Superfund Act!
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