In an effort to hold dirty energy companies accountable for environmental damages, lawmakers in New Jersey are fiercely pushing a brand-new bill that would seek financial compensation for skyrocketing carbon pollution.
As reported by the Asbury Park Press, S3545, also known as the Climate Superfund Act, would greatly aid in the fight against critical climate issues within the Garden State. The legislation would establish a program within the New Jersey Department of Environmental Protection to recover costs from these companies for damages caused by their gas pollution.
These recovered funds would then be used to finance "climate adaptation and resilience projects" in New Jersey. This includes flood protection projects, home buyouts, upgrades of stormwater drainage systems, and a number of projects geared to install "defensive upgrades" to the state's infrastructure.
As noted in the Legislative Fiscal Estimate, the DEP would issue "proportional cost recovery demands" to companies that are deemed responsible for increased gas pollution. This includes those responsible for extracting dirty energy sources or refining crude oil, as well as companies that produce 1 billion metric tons of covered gas emissions.
Bradley Beach Councilman John Weber emphasized the importance of the bill.
"For towns at the Jersey Shore, the Climate Superfund Act is a bill that absolutely must become law," Weber said, according to the Asbury Park Press. "Climate change has already cost the homeowners and taxpayers in my town plenty, and we all know that more expensive storms and rain events are coming."
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Carbon pollution, primarily from the burning of dirty energy sources, contributes to the overall warming of the planet, including the oceans. This warming leads to increased evaporation, providing more moisture and fuel for storms, leading to heavier rainfall during storms. When paired with rising sea levels, storm surge can become even more substantial, making floodwaters a danger to more than just coastal communities.
Matt Smith, New Jersey state director of Food & Water Watch, explained the toll that carbon pollution has taken on the state.
"New Jerseyans have been paying the price for climate chaos for decades — in higher taxes, higher insurance premiums, and devastating losses to homes and livelihoods," Smith said in a statement.
"Meanwhile, the biggest fossil fuel corporations are raking in record profits while fueling the very disasters that are battering our state. The Climate Superfund Act flips the script: Polluters should pay, not the public."
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