Rhode Island lawmakers are making another attempt at passing legislation that would establish a climate "superfund" to hold large oil, natural gas and coal companies responsible for their greenhouse gas (GHG) emissions and their associated harms.
The bills, H7004 and S2024, were introduced to both houses of the state General Assembly earlier this month, state senator Linda Ujifusa (D) and representative Jennifer Boylan (D), the sponsors of the proposal, said on Thursday.
The legislation would direct the Rhode Island Department of Environmental Management (DEM) to identify and issue payment requirements to obligated entities within 18 months of its passage. Obligated entities would include fossil fuel companies that are responsible for at least 1bn metric tonnes of GHG emissions from 2000-2025 but would not include any that do not have "sufficient connection with the state."
Entities covered under the bill would have to make the required payment within six months of being notified, though they could choose to do so in installments. Late payments would result in a penalty totaling to 10pc/yr of the unpaid amount. The bills, which are virtually identical, would also establish a "climate superfund account" where the payments would be deposited, which would then be used to fund any eligible projects identified by DEM.
The agency as well as the attorney general's office would be given the authority to enforce the requirements under the proposal.
The Rhode Island legislature considered a similar climate superfund bill last year, but it died in committee.
Rhode Island is part of a growing number of states that have introduced or restarted efforts to establish a climate superfund law this year. New Jersey lawmakers introduced a bill earlier this month while Maine lawmakers advanced their own climate superfund bill on Wednesday.
Vermont and New York remain the only states that have enacted climate superfund laws. Both are currently facing lawsuits from the federal government.
