Vermont has become the first US state to pass a law to hold big oil and gas companies financially responsible for climate change caused by their CO2 emissions, various media outlets including Danish daily Berlingske and the Financial Times report.

The state has been affected by several major climate disasters such as hurricanes and floods, and now companies like ExxonMobil, Chevron and BP will potentially help rebuild the affected areas in Vermont.

Within the next few years, the state will publish a report detailing the damage to public health and biodiversity caused by the companies’ emissions. The final amount that the oil companies may have to pay has not yet been determined.

The governor, attorney general and secretary of finance of Vermont have all approved the law.

The Republican governor of Vermont, Phil Scott, wrote in a statement that he is ”very concerned” about the climate costs from the so-called Big Oil companies.

The states of California, New York, Massachusetts and Maryland are all considering similar bills.

English edit: Catherine Brett