Maryland’s climate superfund cost assessment bill passes the House and Senate 

ANNAPOLIS, MD – Both chambers of the Maryland General Assembly demonstrated on Monday their commitment to ‘Making Polluters Pay’ by passing a historic bill mandating a comprehensive study of the cumulative financial impact of climate change in Maryland. The new bill is an updated version of the Responding to Emergency Needs from Extreme Weather or RENEW Act — now renamed the Climate Change Adaptation and Mitigation: Total Assessed Cost of Greenhouse Gas Emissions – Study and Reports (HB128/SB149). 

The mandated expert study is due by December 1, 2026 and is expected to show billions of dollars of harm to the state from extreme weather driven by fossil fuel combustion. The study is expected to drive debate toward legislation in 2027 requiring large carbon polluters to pay a fee to the state to cover part of the cost of climate adaptation. New York and Vermont have already passed such bills and at least five more states are considering similar “climate superfund” bills.

This is the necessary first step toward one day making polluters pay for the cost climate change has caused in Maryland. A US Treasury Department study enumerates many of the ways climate change is affecting household finances nationally; however, the Maryland Senate bill will specifically determine the state budget impacts of climate change in Maryland and project the costs of adaptation to some of the most insidious impacts we are experiencing in Maryland such as flooding, extreme heat, sea-level rise, and saltwater intrusion. 

The study will also include an economic analysis to ensure the covered entities in the bill, fossil fuel companies that emitted over 1 billion tons of greenhouse gases between 1994-2023, will not be able to pass on the costs of enforcement phase of Maryland’s climate superfund bill to Maryland consumers.

Advocates intend to return in 2027 with legislation that would require international fossil fuel companies to compensate Maryland for the costs of climate change impacts that they are responsible for. 

Quotes from campaign leaders and partners: 

Senator Katie Fry Hester (District 9)- Senate sponsor

“Marylanders are getting hit with rising costs everywhere. When extreme weather strikes, RENEW offers a clear way to protect taxpayers. Big polluters made the mess, then dodged the bill. It’s time for the state to collect what it’s owed. This bill helps us figure out just how much.”

Delegate David Fraser-Hidalgo (District 15)- House sponsor

“It’s a complicated bill with a simple premise, if you make a mess, you clean it up,” said Delegate David Fraser Hidalgo, the House bill sponsor. “There is irrefutable proof that many of the largest oil companies were aware of the long-term effects of burning fossil fuels as early as 1968 but chose to conceal this scientific evidence.”

Delegate Adrian Boafo (District 23)- House co-sponsor

“This is a watershed event in our fight against climate change. With the adoption of this new law, those very businesses that have prospered from the proliferation of fossil fuels will, at long last, foot the bill for their devastating environmental, public health and economic consequences,” said Delegate Adrian Boafo (D-23-Prince George’s). “The notion that big oil companies should be allowed to achieve record profits for their Wall Street investors, while Marylanders are forced to clean up the mess they have left behind, fails every test of fairness and logic. The passage of the RENEW Act ensures that those who are responsible for the effects of climate change will also pay for real solutions, and in so doing will make the State of Maryland cleaner and more sustainable.”

Brittany Baker, Maryland Director,  CCAN Action Fund

“Every student knows you can’t succeed without studying. With this climate cost study, Maryland is on course to pass the test of protecting its citizens from the worst impacts of climate change. We believe the study will also help legislators understand that the carbon polluters themselves should pay this high cost, not the taxpayers. This is a historic moment and an important first step. The cost calculation was the first phase of implementation in the bill as introduced. This cost calculation will have implications broader than providing a total number for our 2027 enforcement bill. I am grateful to the Comptroller’s Office for leading this important work.”  

Jorge Aguilar, Southern Region Director, Food and Water Watch

“By passing this version of the RENEW Act, legislators have finally begun to acknowledge that fossil fuel companies should be held accountable by paying in dollars and cents for the damage they’ve done. An official comprehensive study will show that the fossil fuel companies owe Marylanders billions of dollars that should pay for climate resiliency, health, and environmental justice programs.”

Vincent DeMarco, President, Maryland Citizens Health Initiative

“We commend the General Assembly for taking the first important step in making polluters pay for climate and health problems they have exacerbated.  We are very thankful to the Chesapeake Climate Action Network for leading on this issue and for the fact that addressing health coverage and equity needs is one of the goals of the RENEW Act.” 

Josh Tulkin, Chapter Director, Sierra Club Maryland

“Marylanders are being harmed every day by global warming, from extreme weather to heat waves to sea level rise. The passage of the Climate Superfund Assessment Bill is a welcome first step toward holding polluters accountable for their role in climate change,” said Josh Tulkin, Director of the Sierra Club Maryland Chapter. “It is no secret that burning fossil fuels like gas and coal emits greenhouse gases that fuel global warming. We are glad to see the General Assembly taking action to pass this critical legislation that will work to ensure Marylanders aren’t footing the bill for harm done by the fossil fuel industry.”

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Chesapeake Climate Action Network (CCAN) Action Fund is dedicated to driving change in public policies at the local, state, and national levels to address the climate crisis. Through voter education, lobbying, and participation in the electoral process, we seek to advance our country’s leadership in the global movement toward clean energy solutions — focusing our efforts primarily in Maryland, Virginia, and Washington, DC. We know that a vibrant democracy is central to our success so we work to defend democratic integrity wherever we can.