States in the US

As federal climate funding stalls in Washington, a growing number of U.S. states are taking climate accountability into their own hands.

From New York to Vermont, lawmakers are rolling out “Polluters Pay” bills aimed at making the companies most responsible for climate change actually pay for its devastating consequences.

11 States, one message🌱

In 2025, at least 11 U.S. states — including New York, Massachusetts, Maryland, Vermont, and Hawaii — have introduced legislation that resembles the federal Superfund model: making companies retroactively liable for environmental damage caused by their emissions.

The Polluters Pay bills would create climate superfunds that fossil fuel corporations would contribute to, based on their historic emissions. According to NCEL, these funds would be used to repair roads, prepare for rising seas, cover wildfire damage, and invest in community climate resilience.

📊 One staggering number: Just 88 corporations are responsible for over 70% of global emissions since 1988. The logic is simple: if they helped cause the damage, they should help cover the cost.

These state-level initiatives come as the U.S. federal climate agenda stalls, and international funding mechanisms (like the $100 billion/year pledge) remain unmet.

Looking ahead

Why should this matter to investors?

Because accountability is the next big megatrend in climate finance.

If these bills pass, they could signal increased litigation risk and stranded asset potential for polluting firms — while channeling billions toward resilience infrastructure, green jobs, and local climate projects.

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