Statement from Mayor’s Office regarding class action lawsuit against large fossil fuel companies

Port Moody City Council has passed a resolution in support of the development of a class action lawsuit against large fossil fuel companies. It is our intention to join with other local governments to support a class action lawsuit to recover our fair share of climate costs, contingent on one local government acting as the representative class action plaintiff. In case a local government decides to act as lead plaintiff and a class action lawsuit goes ahead, the City of Port Moody is setting aside one dollar per resident (2024 population numbers) to be used as a contribution toward legal fees.

The total dollar amount (estimated to be $38,000) will be placed into a dedicated Fossil Fuel Litigation Reserve, which is to be funded from current insurance reserves that have been set aside purposefully to litigate or settle claims and other lawsuits or provide funds to protect or provide a legal voice for community rights and obligations. As these reserves exist currently, there is no tax impact from this transfer of funds.

The City of Port Moody calls on the provincial and federal governments to enact legislation that holds fossil fuel companies financially liable for climate-related harms caused by their contributions to climate change. Fossil fuels have contributed to climate change in a significant way and, as we work to implement Port Moody’s Climate Action Plan, it’s important that we recover costs so that we can reduce the financial burden placed on our residents.

In response to a delegation that appeared before Council on February 13, 2024, Council directed staff to bring forward more information, which was reviewed at the April 23, 2024 Closed Council Meeting. The resulting approved Council motions have been released and can be viewed in the May 28, 2024 Council Meeting agenda, item 14.3.1.   

-Mayor Meghan Lahti