Climate 'super fund' concept advances after committee debate

The Environment Committee on Feb. 6 approved a concept to study a climate change “super fund,” advancing the idea to drafting and future hearings despite vocal objections from some members.

Chair (speaker 2) moved to raise the concept; Representative Mashinsky moved the motion and Representative Baumgartner seconded. Pat, identified in the transcript as the ranking member, said she had "great concerns," arguing the proposal appeared to be "an arbitrary way to try and give monetary blame to past and present companies" and warning it could "greatly increase public benefits in electric and all energy rates in Connecticut." The chair responded that the committee was in a concept phase and that proposals would be shaped during hearings.

Rep Mashinsky urged the committee to consider the concept, citing the August 2024 Oxford storm and saying, "there was $300,000,000 of damage done to our state," to support the case that industry should share some rebuilding costs. Mashinsky said other states have pursued similar measures and asked the committee to hold hearings to examine the facts.

Representative Mashinsky requested a roll-call vote to record individual positions, but the chair elected to proceed with a voice vote. Committee members voiced "aye" and the chair declared "the ayes have it," adopting the motion to raise the concept.

The committee's approval moves the climate fund idea into the drafting and fact-finding stage; it does not create a fund or impose liability. Committee staff will schedule hearings and solicit testimony to explore design options, legal authorities and potential budgetary impacts.