The Office of the Comptroller of Maryland, led by Comptroller Brooke E. Lierman, announced March 17, 2026, in Annapolis that work has commenced on the state’s Cost of Climate Change Study, a comprehensive fiscal assessment mandated by 2025 General Assembly legislation.
The study, formally titled “Climate Change Adaptation and Mitigation – Total Assessed Cost of Greenhouse Gas Emissions – Study and Reports,” requires the Comptroller’s Office to coordinate with the Maryland Department of the Environment and the Maryland Department of Commerce. It aims to quantify historical and projected financial impacts of greenhouse gas emissions and resulting climate change across Maryland, informing lawmakers on costs already incurred and those anticipated.
The analysis will examine effects on key sectors including public health, natural resources, infrastructure, flood preparedness and safety, housing, economic development, and agriculture. It will detail state and resident-borne expenses to date, future projections, mitigation and adaptation costs, and conduct an economic evaluation of potential taxpayer burdens if parties responsible for pollution face accountability measures.
Early work this spring focuses on building climate and economic datasets. The Maryland Clean Energy Center selected the Center for Climate Studies (CCS), a nonprofit with expertise in state-level climate and economic impact analyses, to perform the fiscal assessment and develop projection datasets. CCS will evaluate climate impacts across major economic sectors, pinpoint high-exposure areas, assess adaptive capacity, analyze vulnerabilities in infrastructure and housing, estimate loss and damage costs, and review risk-reduction strategies and investments.
To guide the process, the Comptroller’s Office will convene an interagency workgroup of relevant state agencies. The inaugural meeting is scheduled for March 30, 2026, providing technical input and data support. The project follows defined milestones for transparency, with evaluations of priority climate risks, vulnerability assessments, economic loss quantification, response strategy analyses, and cost pass-through reviews throughout 2026. Draft materials, technical briefings, and phased updates precede the final report delivery.
Comptroller Lierman stated: “Sound policy begins with sound financial analysis. As Maryland’s chief fiscal officer, my responsibility is to provide lawmakers and taxpayers with a clear and comprehensive understanding of the costs facing our state. This study will deliver a data-driven accounting of how greenhouse gas emissions have impacted Maryland’s budget, infrastructure and economy — both historically and over the long term.”
Chief Sustainability Officer Meghan Conklin said: “By providing a data-driven accounting of the financial impacts of greenhouse gas emissions, Maryland can continue leading with strategic action that protects our infrastructure, our economy, and our most vulnerable communities. I look forward to working in partnership with the Comptroller’s Office, our state agency partners, and the Maryland Clean Energy Center to ensure that this analysis produces accurate and transparent results that guide our state toward addressing climate change.”
State Senator Katie Fry Hester stated: “For too long, fossil fuel companies have profited, leaving Marylanders to bear the costs of climate damage. This study will quantify what Marylanders already know: these polluters have imposed real costs on our environment, health, infrastructure, and economy. It’s time to hold them accountable.”
Delegate Fraser-Hidalgo said: “I am very excited that the interagency workgroup is getting started soon. It is imperative we have objective, comprehensive data on what climate change is costing Marylanders. A holistic accounting of these impacts is vital as we look to make the best policy decisions for our state.”
Chesapeake Climate Action Network Federal Policy Director Jamie DeMarco stated: “We know climate change is costing Maryland taxpayers a lot of money and contributing to the state’s projected budget deficit. Hotter hots, wetter wets, and higher tides are causing damage across the state. Thanks to Governor Moore, the Legislature, and Comptroller Lierman, we will soon know for the first time exactly how many dollars we are losing as a result of fossil fuels and climate change.”
This initiative builds on prior efforts, including a December 2025 agreement between Governor Wes Moore and Comptroller Lierman to fund the analysis, following legislative action and earlier Comptroller reports estimating billions in climate-related disaster costs from 1980-2024. The study addresses ongoing regional vulnerabilities in Southern Maryland, where low-lying coastal areas in Calvert, St. Mary’s, and Charles counties face heightened risks from sea-level rise, flooding, and storm surges impacting agriculture, infrastructure like roads and bridges, housing, and water resources tied to the Chesapeake Bay and Potomac River. Quantifying these localized impacts supports targeted adaptation planning for communities reliant on farming, fishing, and waterfront economies.
The final report is anticipated by late 2026, providing data to shape policy on resilience investments and potential accountability mechanisms.