STAND. COM. REP. NO. 1440

Honolulu, Hawaii

RE: S.C.R. No. 110

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Sir:

Your Committees on Energy and Intergovernmental Affairs and Agriculture and Environment, to which was referred S.C.R. No. 110 entitled:

"SENATE CONCURRENT RESOLUTION REQUESTING THE HAWAII STATE ENERGY OFFICE TO CONDUCT A STUDY EVALUATING THE FEASIBILITY OF ESTABLISHING A GREEN BONDS PROGRAM IN THE STATE,"

beg leave to report as follows:

The purpose and intent of this measure is to request the Hawaii State Energy Office to:

(1) Conduct a study evaluating the feasibility of establishing a green bonds program in the State; and

(2) Submit the study and report its findings and recommendations to the Legislature prior to the Regular Session of 2026.

Your Committees received testimony in support of this measure from Coalition Earth.

Your Committees received comments on this measure from the Hawaii State Energy Office.

Your Committees find that the State's transition to one hundred percent renewable energy by 2045, along with the accelerated timeline for neighbor islands to achieve this goal by 2035, will require significant investment and innovative financing solutions, which could include the use of green bonds. According to testimony received by your Committees, the Hawaii Green Infrastructure Authority currently utilizes a form of green bonds to help make clean energy investments accessible and affordable to consumers. The study requested in this measure would provide necessary guidance and insight to the establishment of a successful green bonds program in the State.

Your Committees have amended this measure by making technical, nonsubstantive amendments for the purposes of clarity and consistency.

As affirmed by the records of votes of the members of your Committees on Energy and Intergovernmental Affairs and Agriculture and Environment that are attached to this report, your Committees concur with the intent and purpose of S.C.R. No. 110, as amended herein, and recommend its adoption in the form attached hereto as S.C.R. No. 110, S.D. 1.

Respectfully submitted on behalf of the members of the Committees on Energy and Intergovernmental Affairs and Agriculture and Environment,

________________________________ MIKE GABBARD, Chair

________________________________ GLENN WAKAI, Chair