01:52 PM EST, 12/26/2024 (MT Newswires) -- New York Governor Kathy Hochul on Thursday signed a bill into law that will require fossil fuel companies to contribute financially to infrastructure investments to protect against climate change.

"By creating a Climate Change Adaptation Cost Recovery Program, this law ensures that these companies contribute to the funding of critical infrastructure investments, such as coastal protection and flood mitigation systems, to enhance the climate resilience of communities across the state," the governor's office said in a statement.

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