AB 1243: Polluters Pay Climate Superfund Act of 2025.

The bill establishes a program to require fossil fuel polluters to pay their fair share of the damage caused by greenhouse gases released into the atmosphere. The program, called the Polluters Pay Climate Superfund, will be administered by the California Environmental Protection Agency. The agency will identify responsible parties, which are entities with a majority ownership interest in fossil fuel businesses that have emitted over 1 billion metric tons of greenhouse gases globally. The agency will conduct a climate cost study to quantify the total damage amount from 1990 to 2045, and then determine a cost recovery demand for each responsible party based on their proportionate share of the total damage amount. Responsible parties will be required to pay their cost recovery demands, with collected funds deposited into the Superfund. The funds will be used to mitigate, adapt, or respond…