Princeton Demands Big Oil Pay Its Share With Support For NJ Climate Superfund Act

PRINCETON, NJ – The Council on Monday passed a resolution supporting the passage of the New Jersey Climate Superfund Act.

Princeton has now joined more than 30 New Jersey municipalities in a growing effort to hold major fossil fuel companies financially responsible for the escalating costs of climate change.

This push comes at a critical moment as NJ battles one of the most devastating wildfires in state history.

The crisis underscores the urgent need for legislation that would fully fund the Forest Fire Service and expand climate resiliency initiatives, with costs covered by the very polluters linked to increasingly severe weather events.

The proposed legislation (S3545/A4696), currently pending before the State Legislature, would impose liability on large fossil fuel companies for climate change-related damages instead of placing the financial burden on New Jersey taxpayers.

"New Jersey has experienced deaths and billions of dollars in losses from storms linked to climate change. Hurricane Sandy costs are estimated to be over $29 billion, along with 38 deaths, while Hurricane Ida caused about $2 billion in costs and 30 deaths," states the resolution.

"From 1980-2024 (as of November 1, 2024), there have been 74 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect New Jersey. These costs do not include many others associated with climate change."

Under the Act, the New Jersey Department of Environmental Protection would establish a Climate Superfund Cost Recovery Program to obtain compensatory payments from responsible parties. These funds would then be disbursed for climate change adaptation and resilience projects, which municipalities across the state could apply for.

During the council meeting, a resident and volunteer with Food and Water Watch expressed gratitude for the Council's support, stating: "I want to just convey my deep thanks for your taking this seriously and joining the groundswell of support that is happening throughout the state for the passage of this bill. It's not a perfect bill, but I think that it's beginning a momentum across the country to address the climate disaster issue, and hopefully we'll just start to change minds."

The speaker also commended the efforts of municipal lawyers and thanked Councilman Brian McDonald for his communication on the matter.

Council voted unanimously in favor of the resolution.

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