HI HCR222

Requests the Department of Business, Economic Development, and Tourism to convene a task force to examine the feasibility of divesting state public investments from fossil fuel companies.

Task force must include representatives from DBEDT, Department of Labor and Industrial Relations, Employees' Retirement System, University of Hawaii, non-fossil fuel investment experts, and other community sectors as determined by the DBEDT Director.

Cites global warming (0.8 degrees Celsius rise as of 2012), fossil fuel volatility, climate adaptation costs, and environmental harm as rationale for considering divestment while protecting pension obligations.

Task force must submit findings, recommendations, and any proposed legislation to the Legislature no later than 20 days before the start of the 2016 Regular Session.

References major cities and institutions including Seattle, San Francisco, Rockefeller Foundation, Stanford University, and over 800 global investors that have pledged to divest $50 billion from fossil fuels over five years.