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The EPA has granted California waivers to enforce strict vehicle emissions standards, including a ban on new gas-powered cars by 2035. This decision is expected to face immediate challenges from the incoming Trump administration, which has pledged to roll back Biden-era climate policies.
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New York has enacted the Climate Change Superfund Act, requiring major greenhouse gas emitters to contribute $3 billion annually for 25 years to fund infrastructure projects aimed at mitigating climate change impacts. The law targets oil and gas companies responsible for significant emissions from 2000 to 2024, with penalties starting in 2028 after regulatory details are established.
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California's ongoing wildfires have exacerbated an already troubled insurance market, with major companies halting new policies and dropping existing ones. The state's FAIR Plan is overwhelmed, leading to skyrocketing premiums and limited coverage options for homeowners. The situation threatens homeownership and financial stability in fire-prone areas as claims begin to mount.