Issue Area

Climate Accountability and Risk

Overview

As the climate crisis continues, state legislators are working to hold polluters accountable and address the increased risk created by climate change. Through policies like carbon pricing, cap-and-invest, climate superfunds, and climate finance, legislators can address climate challenges while also holding polluters accountable and directing funds towards social and environmental programs. Without this type of legislation, everyday people will bear the increased burden of climate related costs instead of the corporations who did the most damage.

States like Washington and California have created economy-wide cap-and-invest programs, while others are joining regional initiatives such as RGGI (the Regional Greenhouse Gas Initiative). For climate superfunds, states like Vermont and New York, have passed legislation to allow the state to recover financial damages from fossil fuel companies for the impacts of climate change. Also, across the country, states are passing a variety of climate finance legislation to reinforce the ability for financial institutions to utilize environmental, social, and good governance (ESG) standards and shield constituents from the economic threats of climate change.

View the Story of Washington's Cap-and-Invest
NCEL Point of Contact
Ava Gallo

Climate and Energy Program Manager

Contact
Key Facts

Pollution, like carbon dioxide and methane have a cost, causing climate related damages from more frequent and severe flooding, storms, wildfires, and more. A cap-and-invest program recognizes this reality and puts a price on pollution, shifting that cost back to corporations.

Environmental Defense Fund

Extreme weather events cost the US $150 billion per year, due to direct impacts such as infrastructure damage, worker injuries, and agricultural losses.

CNN

The Financial Stability Oversight Council (FSOC) issued a report concluding that climate change poses an “emerging and increasing threat to U.S. financial stability,” and directed FSOC’s member regulatory agencies to institute climate financial regulations.

U.S. Department of Treasury
Current Legislation Resources News and Events Environmental Justice
Viewing All Bills
Filter

Issue

Status

Close
WY WV WI WA VT VA UT TX TN SD SC RI PA OR OK OH NY NV NM NJ NH NE ND NC MT MS MO MN MI ME MD MA LA KY KS IN IL ID IA HI GA FL DE DC CT CO CA AZ AR AL AK
Select a State
3FDBD0CA-FB8F-493F-AF5D-3E4DED843A45

Resources

NCEL Resources

Online Resources

Resources for the Future Carbon Pricing 101

Carbon Pricing 101: An introduction to carbon pricing, the benefits and design of pricing policies, and applications around the globe.

Go to resource
How a Climate Superfund Works

Conservation Law Foundation's helpful explainer on state action for polluter accountability through climate superfunds.

Go to resource
ESG Battlegrounds

Harvard Law School's blog on ways states are shaping the regulatory landscape in the U.S.

Go to resource

Carbon Pricing and Environmental Justice

The impacts of climate change are not evenly distributed across society with frontline communities often being hit the hardest by climate change impacts, although they have often contributed the least to the causes of climate change. It is important to design climate accountability and risk policies to support communities that will be impacted the hardest.

Prioritize Impacted Communities

In order to address disproportionate pollution burdens, states must prioritize impacted communities in distributing funds from carbon pricing programs. Many states are directing a minimum of 35% of all state investments in climate and clean energy projects to communities overburdened by pollution and underserved by infrastructure.

Polluter Accountability

By holding polluters accountable to help pay for damages caused by the climate crisis, it will relieve the burden on environmental justice communities that have been dealing with these costs for decades.

Cap-and-Trade

Cap-and-trade programs should be paired with mandatory pollution control regulations in order to ensure that pollution does not intensify or shift to another community.

News and Events

See All

Highlighting Our Successes

Media Contact

For more information please contact NCEL Climate and Energy Manager Ava Gallo

Contact