Maryland House Bill HB347

Maryland 2023 Regular Session

• Introduced: 1/26/23
• Refer: 1/26/23

Caption

Attorney General – Climate Change Actions – Authorization

Impact

The implications of HB347 are significant, as it broadens the scope of the Attorney General's authority in climate-related legal matters. By allowing the Attorney General to pursue actions against major corporations for their contributions to climate change, it encourages a more proactive stance on environmental justice. This could lead to increased scrutiny and potential litigation against entities deemed responsible for environmental harm, thus promoting stricter compliance with environmental regulations.

Summary

House Bill 347 authorizes the Attorney General to investigate and initiate legal actions against publicly traded entities with a market capitalization greater than $1 billion for any unlawful activities contributing to climate change. This legislation aims to protect the health and safety of state citizens by holding large corporations accountable for their environmental impact. The bill emphasizes the need for accountability, particularly in cases of fraud or deception that may have exacerbated climate-related issues.

Contention

While the bill has garnered support from those prioritizing environmental protection and corporate accountability, it may face opposition from business groups concerned about the potential for increased litigation and uncertainty surrounding regulatory compliance. Critics might argue that such actions could deter investment or impose a heavy financial burden on corporations, ultimately impacting economic growth. Discussions around how best to balance environmental interests with economic considerations will likely be a point of contention as the bill progresses.