Gov. Green establishes Climate Advisory Team to develop climate resilience policy

Gov. Josh Green on Thursday announced the inauguration of the Climate Advisory Team.

The newly formed committee, comprising experts and stakeholders, will tackle the challenges of climate disasters and provide a roadmap for the state’s strategy to mitigate the financial impact of climate change.

Under the leadership of Gov. Green, the committee will play a crucial role in drafting comprehensive climate-resilience policy, drawing from perspectives including Gov. Green’s administration, climate science experts, business and financial experts, and legal professionals.

As one of its first projects, the Climate Advisory Team will recommend steps to create a durable fund to mitigate the impacts of dynamic climate change and to develop a fair and comprehensive structure to resolve claims related to future disasters. This is necessary to stabilize the insurance market and defray the financial burdens arising from the increased impacts of climate change. Engaging with stakeholders, the Climate Advisory Team will:

• Work with third-party experts to model and analyze the risk of natural disasters and wildfires for Hawai‘i and to create an actuarial analysis to size any go-forward fund
• Develop a customized go-forward fund structure and related claims settlement mechanics
• Evaluate and determine sources of funding
• Issue a report and/or roadmap to the governor outlining findings and suggestions, including potential legislation.

The governor on Thursday also provided an update on his policy efforts, highlighting the state’s $10.4 billion FY25 budget and income tax reform.

“It’s a historic moment for Hawaiʻi’s working families. The tax reform measures we will implement will bring immense relief to hardworking individuals and families,” said Gov. Green. “This substantial reform will provide breathing room and allow families to allocate their hard-earned income towards other essential needs.”