Last night the Hoboken City Council passed a resolution supporting the NJ Climate Superfund Act (S3545/A4696). This bill, which is being considered by the state legislature, would make the largest fossil fuel corporations pay for the damages caused by climate change. The bill passed out of the Senate Environment committee in December. Its passage is a top priority for the New Jersey environmental movement and impacted communities throughout the state.

“We are happy to do our part in supporting the enactment of this significant legislation,” said Hoboken Council Vice President Jim Doyle. “Its passage would be a meaningful step in leading a trend, nationally, among the many approaches we all must embrace to address the existential threat to all that climate change is.”

“I am proud to cosponsor this resolution to declare Hoboken’s support for the state legislation that has been proposed to enact a New Jersey Climate Superfund that would ensure that polluters are held accountable for the damage caused to our environment,” said Hoboken Council Member Emily Jabbour. “This fund would provide grants that would allow Hoboken to make adaptations and repairs to address climate change without burdening local tax payers. I am proud to see Hoboken lead the way for New Jersey as the first municipality in the state to vocalize support.”

“I am proud that Hoboken continues to be a leader on important environmental issues, like creating a superfund to address the impacts of climate change and mitigate the associated costs which are burdening our communities across the state,” said Hoboken Council Member Phil Cohen.

“New Jersey has seen unprecedented climate destruction over the last few years from massive wildfires spurred by record drought to major flooding from intense storms. It’s more important than ever that Governor Murphy and state legislators protect New Jersey taxpayers and the health of our communities by making polluters pay their fair share of the damages,” said Matt Smith, New Jersey Director of Food & Water Watch and steering committee member of the Empower NJ Coalition. “The Climate Superfund Act is a crucial tool for tackling both the climate and affordability crises in New Jersey. With dedicated funding to protect clean water, prevent flooding and sewer overflows, and harden our energy grid and other critical infrastructure, this bill will help make New Jersey stronger than the climate-fueled storms to come.”

The Climate Superfund Act would hold fossil fuel extractors and refiners that do business in New Jersey – responsible for more than 1 billion tons of greenhouse gas pollution since 1995 – liable for damages for the costs of climate change. It would empower the state treasurer to assess the damages caused by climate change over the past 30 years and charge the Department of Environmental Protection with collecting on those damages. This revenue would fund a new “Climate Superfund Cost Recovery Program” that would provide dedicated funding for everything from recovering from destructive climate and weather events to upgrading the transit system and electrical grid to municipalities like Hoboken which has already faced its share of climate change related impacts.

“Hoboken has witnessed firsthand the devastating impacts of climate change, from Superstorm Sandy to increasingly frequent rainfall flooding events,” said Mayor Ravi S. Bhalla. “Here in Hoboken, residents and taxpayers have shouldered the cost of these events for far too long. The Climate Superfund Act will shift some of that burden to the corporations most responsible for climate change, helping to secure a safer, more resilient future for New Jersey. I thank Assemblyman John Allen for his leadership in introducing this legislation at the State and the City Council for adopting this resolution.” 

In late December, New York Governor Kathy Hochul signed the New York version of the Climate Superfund Act into law. The law is expected to raise $3 billion annually to offset the cost of climate change.

“As a victim of Hurricane Sandy and a 40 Year resident of Hoboken, who has suffered the destruction of multiple severe weather events over the decades, it’s time for us to shift the burden of paying for these catastrophes off of taxpayers and onto the industry responsible,” said Liz Ndoye of Hoboken MoveOn. “It is the fossil fuel industry that has created global warming, sea level rise, and weather related disasters by fostering our dependence on oil and gas. I want to thank the Hoboken City Council for resolving to support the Climate Superfund Act. It is time to make the fossil fuel industry pay for the destruction it has visited upon state residents. Hoboken Council has done much to lead the way for other municipalities to do the same to call on the state legislature to pass this common sense legislation.”