On June 17, 2025 the Institute for Energy Research, in partnership with C3 Solutions, hosted a webinar for policymakers and stakeholders on Climate Change Superfund legislation that was passed in New York and Vermont last year.
Background
In December 2024, New York Governor Kathy Hochul signed the Climate Change Superfund Act into law, requiring major fossil fuel producers to pay $3 billion annually into a climate response fund over the next 25 years. New York becomes the second state to adopt such legislation, following Vermont’s lead. Opponents argue the policy will lead to higher energy prices for consumers by placing a financial burden on fossil fuel providers, which still account for about 80% of the nation’s energy supply.
This past May, the Department of Justice filed federal lawsuits against both Vermont and New York, arguing that the Superfunds are “a brazen attempt to grab power from the federal government.”
Moderator:
- Tom Pyle, President, Institute for Energy Research and American Energy Alliance
Panelists:
- Ian Banks, Research Fellow, C3 Solutions
- Jessica Weinkle, Associate Professor, Department of Public and International Affairs, University of North Carolina Wilmington
- Donald Kochan, Professor of Law and Executive Director of the Law and Economics Center, George Mason University
Links:
- Learn more about the Institute for Energy Research
- Learn more about C3 Solutions
- New York State’s New Climate “Superfund Law”
