The proposed bill, General Assembly Proposed Bill No. 1199, aims to establish a Climate Change Superfund by amending current statutes to mandate the recovery of damages from companies that have significantly contributed to greenhouse gas emissions. The bill stipulates that the funds recovered from these companies will be allocated to cover costs associated with climate change mitigation, resilience, and adaptation efforts. Importantly, it requires that at least forty percent of the funding be directed specifically towards environmental justice communities, ensuring that those disproportionately affected by climate change receive necessary support.

This legislation seeks to create a sustainable financial mechanism to address the impacts of climate change while prioritizing vulnerable communities. By holding companies accountable for their contributions to greenhouse gas emissions, the bill not only aims to generate funds for essential climate initiatives but also emphasizes the importance of equity in environmental policy.