Superfund: making polluters pay for the damage they've caused
The Climate Change Superfund, or Senate Bill S2129A is meant to create a 25-year fund of $3 billion annually, intended to make the most polluting corporations in NY pay for the harm they’ve caused. The covered emissions period is from 2000–2024.
The fund, financed by big fossil fuel corporations, would pay for climate mitigation, adaptation, and resiliency projects. One-third is reserved for communities most impacted by the climate crisis. New York State’s Department of Environmental Conservation (DEC) will manage the Climate Change Adaptation Fund, which is established within the state's environmental conservation law. As expected, oil and gas companies are fighting back with every trick they can find.
After years of slow action, the New York State Assembly joined the State Senate in passing the Act in 2024. New York follows Vermont, which became the first US state to pass a similar Superfund the same year. The dominoes are falling: Maryland, Massachusetts, and California have similar proposals.
Timeline
2024: Superfund passes and is signed into law.
January 2025: the Legislature passed amendments refining responsible party definitions, increasing regulation timelines, extending covered emission period to 2024, and excluding foreign nations from liability.
February 2025: 22 Republican-led states sued NY in federal court. The U.S. Chamber of Commerce and API filed a suit in a different federal court.
September 30, 2026: First contributions are due, or may be spread over 24 years.
