The law would raise $3 billion annually from major carbon polluters, requiring them to pay for climate damage based on their emissions.

Governor Kathy Hochul has signed a comprehensive legislative package aimed at enhancing the protection of consumer data in New York, particularly during the hol

New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law on Thursday. The law is intended to shift some of the recovery and adaptation costs of climate change from individual taxpayers to oil,

Large fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed by Democratic Gov. Kathy Hochul

The legislation, approved earlier this year, compels major oil and gas companies to help cover the costs of recovery after extreme weather events.

Gov. Kathy Hochul approved a controversial law that will force oil, natural-gas and coal companies to fork over a staggering $75 billion to the state for carbon emissions and allegedly contributing to climate change.

New York Gov. Kathy Hochul on Thursday approved the Legislature’s bill requiring major polluters that contributed to global warming to pay $75 billion for repairs from major storms and other remediation resulting from climate change.