NEW YORK (Reuters) – New York state was sued on Thursday over a new law requiring fossil fuel companies to contribute $75 billion over 25 years into a state fund that will pay for damage caused by climate change, West Virginia Attorney General John McCuskey said.
The law signed by Democratic Governor Kathy Hochul on December 26 creates a “superfund” to shift the cost to mitigate climate change to oil, gas and coal companies from taxpayers.
At a press conference, McCuskey, a Republican, called the law unconstitutional. A copy of the complaint was not immediately available.
(Reporting by Jonathan Stempel in New York; Editing by Chris Reese)
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