Bill > SB1187

This bill establishes the Climate Superfund Cost Recovery Program, a comprehensive initiative to address the financial impacts of climate change in Oregon. The program creates a mechanism to hold major fossil fuel companies financially responsible for greenhouse gas emissions released between 1995 and 2024, with the goal of recovering costs associated with climate change impacts. The Department of Land Conservation and Development will lead an interagency team that includes multiple state agencies to develop a resilience implementation strategy, conduct an assessment of climate change costs, and distribute funds for climate adaptation projects. Responsible parties (defined as entities that have emitted over one billion metric tons of greenhouse gases globally) will be required to pay a cost recovery demand based on their proportionate share of emissions, with options to pay in full within six months or in nine annual installments. The bill mandates that 30% of collected funds will be transferred to the Department of the State Fire Marshal for wildfire resilience and 40% will be spent on adaptation projects benefiting environmental justice communities. The program is designed to be strictly additional to existing legal remedies and does not limit other state agencies' authority to regulate greenhouse gas emissions. The bill takes effect 91 days after the 2025 legislative session adjourns, with initial rules to be adopted by January 1, 2028, and an initial assessment of climate change costs to be completed by the same date.

Agriculture and Natural Resources

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB1187