Establishes a working group to recommend risk transfer market mechanisms for climate change mitigation.

The bill amends Hawaii Revised Statutes to establish a working group tasked with identifying, assessing, and recommending risk transfer market mechanisms to promote investment in natural infrastructure. These mechanisms aim to reduce risks of climate change related to catastrophic events. The group will consider profitable insurance policies, community-wide applications, and examples from other countries. The commissioner must include the group's findings and recommendations in the annual report, potentially leading to proposed legislation.

Establishes a working group to recommend risk transfer market mechanisms for climate change mitigation.

The bill amends Hawaii Revised Statutes to establish a working group tasked with identifying, assessing, and recommending risk transfer market mechanisms to promote investment in natural infrastructure. These mechanisms aim to reduce risks of climate change related to catastrophic events. The group will consider profitable insurance policies, community-wide applications, and examples from other countries. The commissioner must include the group's findings and recommendations in the annual report, potentially leading to proposed legislation.