New Jersey S2338, the "Climate Superfund Act," imposes cost recovery payments on fossil fuel companies for climate change adaptation funds.

New Jersey S2338, known as the "Climate Superfund Act," imposes cost recovery payments on certain fossil fuel companies for damages caused by climate change. The Department of Environmental Protection (DEP) will establish a program to collect these payments and distribute them as grants for climate change adaptation and resilience projects. The bill defines "responsible parties" as entities that extracted or refined fossil fuels and emitted over one billion metric tons of greenhouse gases between 1995 and the bill's effective date.

New Jersey S2338, the "Climate Superfund Act," imposes cost recovery payments on fossil fuel companies for climate change adaptation funds.

New Jersey S2338, known as the "Climate Superfund Act," imposes cost recovery payments on certain fossil fuel companies for damages caused by climate change. The Department of Environmental Protection (DEP) will establish a program to collect these payments and distribute them as grants for climate change adaptation and resilience projects. The bill defines "responsible parties" as entities that extracted or refined fossil fuels and emitted over one billion metric tons of greenhouse gases between 1995 and the bill's effective date.