HI SCR187

Encourages completion of The Nature Conservancy's feasibility assessment on reef insurance to protect Hawaii's coral reefs and coastal infrastructure from natural disasters, scheduled for completion by October 2020.

Directs the Department of Land and Natural Resources, Department of Transportation, state and county agencies, The Nature Conservancy, and other partners to develop an implementation plan proposing nature-based projects to protect coastal infrastructure, including insurance mechanisms and market-based incentives.

Requests The Nature Conservancy share feasibility assessment results and recommendations for nature-based solutions with the 2021 Legislature to help protect Hawaii's coasts from flooding and inundation.

Recognizes that healthy coral reefs can absorb up to 97 percent of wave energy and protect approximately $836,000,000 worth of coastal infrastructure annually, while supporting fishing, tourism, food security, and cultural connections.

References Mexico's 2018 Coastal Zone Management Trust Fund model and world's first reef insurance policy purchased in mid-2019, which covers damage to the reef itself rather than private property damage from hurricanes.