Bill > SB1258

This bill establishes a Green Bonds Working Group within the Department of Business, Economic Development, and Tourism to develop recommendations for creating a green bonds financing program in Hawaii. The working group will be composed of key state officials, including the directors of business and finance, the chairperson of the board of land and natural resources, and representatives from the legislature, with additional invited participants from environmental nonprofits. The group's primary responsibilities include developing recommendations for financing projects related to climate change mitigation and adaptation, evaluating investment opportunities, determining project eligibility criteria, analyzing international green bond principles, and estimating the cost of creating a state-facilitated green bonds program. Recognizing Hawaii's status as the first state to declare a climate emergency, the bill aims to explore innovative financing mechanisms to support sustainable projects in areas such as renewable energy, clean transportation, conservation, and green infrastructure. The working group is required to submit a comprehensive report to the legislature before the 2026 regular session and will officially dissolve on June 30, 2026. Members will serve without compensation but will be reimbursed for necessary expenses, reflecting the state's commitment to exploring sustainable financial strategies for addressing climate change.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1258&year=2025