Are you aware of the recently passed Climate Solutions Now Act
(SB528)? It calls for Maryland to reduce greenhouse gases (GHG) by 60%
(compared to a 2006 baseline) by 2031 and for the Maryland economy to
reach net-zero emissions by 2045. Buildings failing to achieve the
“performance standards” will be required to pay a fee based on the
difference of the building’s direct emissions to the standard to be developed
by the Maryland Department of the Environment. The fee will be equal to
the “social cost of carbon” set by the Environmental Protection
Agency (EPA) which is currently $51 per ton and could increase to
$120 per ton.
The legislation requires that the Maryland Department of the Environment to
develop and submit a draft plan for achieving the 2031 goal by June 30,
2023 and to adopt a final plan by December 31, 2023.
CQI Associates offers consulting support to develop greenhouse gas
emission reports and assistance in order to be compliant with the new
regulations.
For more information contact CQI Associates at 410-500-9555.
