Who will pay for climate disasters?

The Adirondack Almanack: A suite of environmental bills passed in the state Senate recently to mark last month’s Earth Day. One measure, delivered to the Assembly last week, could result in a multi-million annual grant for the North Country to help with disasters caused by extreme weather.

The money is anticipated under the Climate Superfund Act introduced by Sen. Liz Krueger, D-Manhattan. It would require oil and gas companies to contribute to a fund of $3 billion each year to foot climate disaster bills. The legislation was excluded from this year’s $237 billion state budget.

“New York is facing billions of dollars in climate costs, expenses to be felt by every taxpayer,” Blair Horner, executive director of the New York Public Interest Research Group, said in a release Tuesday. Read more>>