S.B. 944 Summary

• Adds "nature-based solutions" definition to Hawaii Revised Statutes as actions to protect, sustainably manage, and restore natural or modified ecosystems that contribute to climate change mitigation, adaptation, or risk management.

• Requires the Hawaii Climate Change Mitigation and Adaptation Commission to prioritize identification and recommendations for utilizing nature-based solutions in climate change mitigation and adaptation efforts at regional, state, and local levels.

• Directs the commission to assess and make recommendations regarding insurance, reinsurance, and other risk transfer mechanisms that incentivize public and private investment in nature-based solutions that reduce carbon emissions or lessen climate risks.

• Appropriates general revenues for fiscal years 2019-2020 and 2020-2021 to the Department of Land and Natural Resources for the commission to identify and prioritize nature-based solutions and identify insurance and risk transfer mechanisms.

• Effective date of July 1, 2050.