Montpelier, VT—Today, State Treasurer Mike Pieciak and Agency of Natural Resources Secretary Julie Moore announced they are seeking expert input related to implementing Act 122, The Climate Superfund Act. This marks the first step in effectuating the historic legislation, which authorizes the state to recover financial damages from fossil fuel companies for the impacts of climate change to Vermont. Funds recovered would support climate adaption projects.
“To support the health, safety, and prosperity of our communities, we must ensure Vermont is equipped financially to address the impacts of climate change,” said Treasurer Pieciak. “This work is even more important as our state recovers from a second straight year of widespread flooding, with the impact falling hardest on low-income Vermonters and our most vulnerable communities. Our Office stands ready to start implementing the Climate Superfund Act, to ensure the costs of climate change are shouldered by the polluters responsible, not Vermonters.”
Secretary of Natural Resources Julie Moore noted that, “Vermont has seen firsthand the significant impacts that climate change is having on our environment and our economy. As we advance this important legislation, we are committed to learning from academics, experts, and consultants who have laid the groundwork for states to be able to hold fossil fuel companies accountable.”
The state’s request for information (RFI) seeks expert opinions and advice to inform which fossil fuel companies must be held accountable under Act 122, including how to determine their relative share of climate-related loss and damage that Vermont has experienced over the past 30 years. Officials also seek input on established and well-documented approaches for calculating the overall cost to the state of greenhouse gas emissions, considering factors like public health, economic development, and impacts to natural resources.
This RFI is an opportunity for entities and individuals to share their knowledge and expertise to help inform the approach Vermont will use to determine loss and damage attributable to climate change. Responses are due September 30, 2024, and will be evaluated by ANR and the Treasurer’s Office.
Entities and individuals interested in responding to the state’s RFI can find more information here.
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