Australia can learn from the example of New York, which is even more climate correct than this country, but Australia is going down the same path, unfortunately. The New York governor, Kathy Hochul, has signed a new law that requires companies seen to have a high carbon footprint to pay into a special fund that will be used to deal with future infrastructure projects to deal with climate change. Senator Liz Krueger, a Democrat who sponsored the Bill, now law, said: "The Climate Change Superfund Act is now law, and New York has fired a shot that will be heard round the world: the companies most responsible for the climate crisis will be held accountable."
"The planet's largest climate polluters bear a unique responsibility for creating the climate crisis, and they must pay their fair share to help regular New Yorkers deal with the consequences."
What these sort of woke, feel good laws do, is first nothing for any so-called climate crisis, as the money is for patch-ups and set to be wasted like most government projects like this, but second, this will be an added cost upon energy, which will be passed onto the consumer, with rising costs of everything across the board, as all must use energy.
https://apnews.com/article/climate-change-damage-new-york-8afab2d111f71786e3d89c5326d2a4cf
"Large fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed Thursday by Gov. Kathy Hochul.
The new law requires companies responsible for substantial greenhouse gas emissions to pay into a state fund for infrastructure projects meant to repair or avoid future damage from climate change.
Lawmakers approved the bill earlier this year to force big oil and gas companies to contribute to the cost of repairs after extreme weather events and resiliency projects such as coastal wetland restoration and upgrades to roads, bridges and water drainage systems.
"The Climate Change Superfund Act is now law, and New York has fired a shot that will be heard round the world: the companies most responsible for the climate crisis will be held accountable," said state Sen. Liz Krueger, a Democrat who sponsored the bill.
"The planet's largest climate polluters bear a unique responsibility for creating the climate crisis, and they must pay their fair share to help regular New Yorkers deal with the consequences," Krueger said.
The biggest emitters of greenhouse gases between 2000 and 2018 would be subjected to the fines.
The law won't start penalizing companies immediately. Instead, the state must come up with rules on how to identify responsible parties, notify companies of the fines and create a system to determine which infrastructure projects will be paid for by the fund. Legal challenges are expected.
"This type of legislation represents nothing more than a punitive new fee on American energy, and we are evaluating our options moving forward," the American Petroleum Institute, the oil industry's top lobbying group, said in a statement.
New York's governor signed the measure months after Vermont put a similar law in place."