New Jersey Assembly Bill AR16

New Jersey 2022-2023 Regular Session

• Introduced: 1/11/22
• Refer: 1/11/22

Caption

Urges Argentina to fulfill its Superfund obligations for Passaic River and elsewhere.

Impact

The resolution highlights the ongoing environmental and health issues stemming from contamination in the Passaic River. It notes that the U.S. Environmental Protection Agency (EPA) placed the Diamond Alkali site on the National Priorities List in 1984, marking the beginning of a cleanup initiative that remains critical to safeguarding public health and the environment. The resolution implies that adherence to cleanup obligations is essential not only for the residents of New Jersey but also for maintaining international standards of corporate responsibility and environmental stewardship.

Summary

Assembly Resolution No. 16 (AR16) urges the Government of Argentina to fulfill its obligations regarding environmental cleanup, specifically under the Superfund program for the Passaic River and associated sites. This resolution recognizes the historical context surrounding the Diamond Alkali Company, which operated in Newark, New Jersey, and its significant environmental impact resulting from the production of hazardous substances. It emphasizes the need for accountability from Argentina's state-owned YPF S.A., which acquired Maxus Energy Corporation, the predecessor to Diamond Alkali, amid awareness of its potential liabilities.

Contention

Issues of contention arise from the bankruptcy proceedings initiated by YPF S.A., which attempted to evade environmental liabilities acquired from Maxus. Critics argue that YPF's actions of stripping assets and shifting the financial burden could set a worrying precedent for other Superfund sites. The resolution challenges Argentina's government to ensure accountability, aligning with the rhetoric of President Mauricio Macri about responsible governance and environmental care. This situation showcases the complexities involved in corporate environmental responsibility on an international scale.