The past few years have made clear that climate change has arrived in Maine, and it comes with a steep bill. This summer’s drought, among the worst on record, resulted in millions of dollars of crop losses among Maine farmers. Two years ago, winter storms racked up an estimated $90 million in damage to public infrastructure and untold more to private property. Investing in disaster recovery and resilience is no longer a choice, but an imperative to building and maintaining healthy, safe communities in 21st-century conditions.

Fifty-seven fossil fuel companies were responsible for 80% of global greenhouse gas emissions from 2016 through 2022, roughly consistent with historical trends since the science of climate change solidified decades ago. Despite their disproportionate responsibility for global climate change — and full knowledge about the cascading social and ecological consequences of their business models — these companies take no responsibility to help manage the expensive impacts in Maine and beyond. As it stands, the financial burden of climate change falls on Maine taxpayers, whose resources must increasingly be diverted to local and state responses in areas like stormwater management, sea-level-rise adaptation and public health.

Large oil and gas companies have known for years about the negative impacts of climate change, and it’s time they pay their fair share of the bill. This session, the Legislature is considering a bill I introduced seeking to establish a superfund to equitably realign this cost burden in a way that aligns with relative responsibility for climate-warming emissions.

LD 1870, “An Act to Establish a Climate Superfund Cost Recovery Program to Impose Penalties on Climate Polluters,” is modeled on similar legislation in Vermont and New York. It would require companies that have emitted more than one billion metric tons of greenhouse gas emissions between 1995 and 2024 to pay a one-time fee for the detrimental impacts caused by such emissions.

LD 1870 is not about punishing fossil fuel companies, but rather creating a more equitable pathway for Maine to recover a portion of the public costs directly from the global companies whose pollution over the past 30 years continues to damage our communities today.

Last year, the Legislature passed LD 1 with strong bipartisan support, recognizing the urgent need to invest in climate resilience, public health infrastructure and emergency response systems now under intense pressure from a changing climate. LD 1870 is a natural extension of that commitment. Like LD 1, this bill has broad support and represents a fiscally responsible, common-sense approach to protecting Maine’s future in the face of climate change.

LD 1870 aligns with the Maine Climate Council’s Climate Action Plan, which places a strong emphasis on climate resilience. Thirty-five percent of this legislation’s revenues would be used for climate adaptation projects in communities that have the most significant exposure to climate change, including rural, disadvantaged and low-income communities. This legislation ensures that climate resilience investment benefits are equitably distributed across our state.

I’m excited to see how LD 1870 progresses, and I hope my colleagues on the Environment and Natural Resources Committee see its promise and its importance.