State Comptroller Brooke E. Lierman reported to the public last spring that climate change is already costing Maryland millions of dollars annually. In a press conference, she described both the financial costs of inaction and the benefits of investing in climate resilience and clean energy.
How Climate Change Affects Daily Life
Maryland’s warming climate is already driving up everyday expenses.
Hotter days mean higher air-conditioning costs.
Extreme weather damages crops, contributing to higher food prices.
Insurance companies are increasingly refusing to renew policies in higher-risk areas, affecting homeowners, renters, and businesses.
Investing in Solutions Pays Off
Lierman emphasized that prevention pays. She cited a 2024 U.S. Chamber of Commerce study showing that every $1 spent on resilience and disaster preparedness saves $13 in avoided damage and recovery costs. Her office also projects that strong greenhouse-gas reduction policies could add 27,000 jobs and grow Maryland’s economy.
Who Pays?
Currently, Lierman explained, taxpayers are shouldering nearly all the costs of climate change—past, present, and future. The Comptroller supports legislation to make major polluters like fossil fuel companies help pay for the costs of climate impacts. One such proposal, the RENEW Act (Responding to Emergency Needs from Extreme Weather) passed the Maryland General Assembly in 2025 but was vetoed by Gov. Wes Moore.
What This Means for Riderwood
We are fortunate to live in a well-built and well-prepared community. We are protected in many ways. Yet as older adults, many of us are vulnerable to respiratory problems that can be aggravated by poor air quality. Certain fine particulates like black carbon (soot) are bad for the lungs and also warm the atmosphere by absorbing sunlight. Efforts to improve the air we breathe are also good for the climate.
The Climate Costs Report outlines both the financial toll of climate change and policy options for reducing emissions and protecting Marylanders. You can read the report here:
https://www.marylandcomptroller.gov/content/dam/mdcomp/md/reports/research/state-spending-series-climate-change-costs-april-2025.pdf