HI HR120

Urges the Employees' Retirement System Board of Trustees to work with a reputable investment consulting firm to assess the impact of fossil fuel investments on the system's portfolio over the past one, three, and five years.

Requests a report quantifying losses and gains from fossil fuel investments compared to an alternative portfolio with those investments distributed in other sectors.

Report must be submitted to the Legislature prior to the convening of the 2017 Regular Session.

Emphasizes Hawaii's vulnerability to climate change effects, including rising sea levels, ocean temperature increases, and disrupted weather patterns.

Cites examples of major pension funds (CalPERS and CALSTRS in California) divesting from coal and warns of a potential "carbon financial bubble" from declining fossil fuel stock values.