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Maryland Tackles Climate Costs Study
12 Dec
Summary
- Maryland launches economic impact study on climate change.
- Study funded by state and philanthropic sources.
- Baltimore area residents show high concern about climate change.
Maryland is set to launch a comprehensive study to assess the economic consequences of climate change, including the costs of storm damage and health impacts. This initiative aligns with the Moore-Miller administration's commitment to fostering a clean energy economy and upgrading the state's energy infrastructure.
Governor Wes Moore stated that while federal policies have impacted energy costs, Maryland is taking a proactive approach to understand the true financial toll of climate change. The RENEW Act Study will be financed through state investments and philanthropic contributions totaling $500,000, aiming to quantify the financial burden on residents from extreme weather and environmental shifts.
This development follows Maryland lawmakers' opposition to a federal proposal that could weaken greenhouse gas emission regulations. Public concern is also high, with a recent poll indicating that nearly 73% of Baltimore City and County residents fear climate change will affect them personally, with many expecting increased costs for homeowners and businesses.
