ACTION ALERT: NJ Climate Superfund Bill Slated for Vote This Tuesday, June 30th.
Labor & Energy Alliance Board Members and Fellow Leaders,
The New Jersey Climate Superfund Bill, formally known as the “Polluters Pay Climate Fund Act” (A3735/S2338), is expected to receive a vote this Tuesday, June 30, as part of the state budget process.
The New Jersey Climate Superfund Bill
The New Jersey Climate Superfund bill is proposed legislation that would create a state-managed fund by requiring fossil fuel companies to pay a total of $50 billion over 20 years to finance climate adaptation projects, including flood protection, stormwater infrastructure improvements, and other resiliency initiatives for fossil fuel related damages they may have had nothing to do with.
The bill imposes retroactive financial liability on companies for producing and refining fossil fuels that were legal, heavily regulated, and essential to powering New Jersey’s economy for decades. These companies operated under state and federal laws, environmental permits, and government oversight, yet the bill would require them to pay billions of dollars for past activities that complied with the law. The legislation also seeks to hold companies financially responsible for climate-related damages without first proving that any particular company caused the specific damages for which it would be assessed.
POINTS OF INFORMATION:
- It penalizes companies for activities that were legal. New Jersey refineries have operated under state and federal permits while complying with applicable environmental regulations.
- It imposes liability without requiring proof of negligence, wrongdoing, or that a particular company caused the specific damages for which it would be held financially responsible.
- It may impact New Jersey’s only two remaining refineries. Although some legislators believe the bill excludes refineries, others argue that its definitions could still include Bayway and Paulsboro and potentially expose their parent companies to liability.
- It puts thousands of good-paying union jobs at risk. If companies reduce investments, delay maintenance, or shift projects elsewhere because of increased financial exposure, refinery workers and Building & Construction Trades members could lose work opportunities.
- It may increase energy costs. Opponents argue that companies will ultimately pass higher operating costs on to consumers through increased fuel, transportation, and manufacturing costs.
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Labor Leadership: Take Action Now!
The New Jersey Climate Superfund Bill is slated to receive legislative action this Tuesday, June 30, the constitutional deadline for adopting the state budget. If enacted, at a minimum, the bill could force New Jersey’s refineries and their parent companies to spend millions of dollars defending themselves through years of costly litigation and appeals. It could also jeopardize the long-term viability of New Jersey’s remaining 2 refineries, threaten thousands of high-paying union jobs, discourage future investment, and increase energy costs for families, businesses, and local governments throughout the state.
PLEASE CONTACT:
- Your State Assembly Members
- Your State Senator
- Assembly Speaker Craig Coughlin
- Senate President Nicholas Scutari
- Members of the Assembly and Senate Budget Committees
- Governor Phil Murphy’s Office
Please urge lawmakers to:
- Delay any vote on the Climate Superfund Bill until legal challenges to similar laws in other states have been resolved.
- Fully evaluate the bill’s economic, labor, energy, and legal consequences before imposing a $50 billion assessment.
- Protect New Jersey’s refinery workers, Building & Construction Trades members, and the thousands of jobs that depend on refinery operations.
- If the Legislature intends to exclude New Jersey refineries, make those exclusions explicit and unmistakable in the legislation.
In Solidarity,
Joe Dougherty
Executive Director
Labor & Energy Alliance
267-250-1375