Maryland’s Proposed Climate Superfund Bill

Maryland’s proposed RENEW Act of 2024 — Responding to Emergency Needs from Extreme Weather — seeks to levy penalties on the 40 biggest emitters of greenhouse gases in Maryland over the past two decades — and use the funds for an array of climate mitigation, resilience and adaptation initiatives. Estimates say the bill would generate $900 million a year in revenues over the course of a decade, enough to pay for several of the state’s most ambitious climate initiatives.