What is the RENEW Act Study in Maryland?

The RENEW Act Study is an initiative by Maryland to analyze the economic impacts of climate change, including storm damage and health outcomes.

Why is Maryland studying climate change costs?

Maryland is studying climate change costs to understand the financial burden on taxpayers and to inform investments in a clean energy economy and modern infrastructure.

How concerned are Baltimore residents about climate change?

Nearly 73% of Baltimore City and County residents surveyed expressed concern about climate change affecting them, with many anticipating increased costs.

Home / Environment / Maryland Tackles Climate Costs Study

Maryland Tackles Climate Costs Study

12 Dec

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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.