Bill > S08585

This bill provides a legal mechanism for the New York Attorney General and insurers to seek financial recovery from large fossil fuel companies for damages caused by climate disasters. The bill defines a "climate disaster" as any event (such as floods, hurricanes, or wildfires) where climate change was a contributing factor, and establishes criteria for identifying "responsible parties" - specifically fossil fuel companies with annual revenues over $500 million that have conducted business in New York. The Attorney General can bring civil actions to recover costs such as insurance assessments, premium increases, and market disruption expenses resulting from climate-related events. Similarly, insurers doing business in New York, including the New York Property Insurance Underwriting Association, can sue responsible parties for damages, court costs, and other relief. The bill allows these actions to be filed within three years of discovering the harm, mandates strict liability for responsible parties, and explicitly does not limit other existing legal remedies related to climate change or consumer protection. The bill aims to hold major fossil fuel producers financially accountable for climate-related damages and provides a framework for seeking compensation for losses attributed to climate change.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S8585