RELATING TO CARBON SEQUESTRATION.

SB2373

THE SENATE

S.B. NO.

2373

THIRTY-THIRD LEGISLATURE, 2026

STATE OF HAWAII

A BILL FOR AN ACT

relating
to carbon sequestration
.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

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SECTION 1.
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The
legislature finds that climate change is occurring as a result of human
activity, particularly the burning of fossil fuels and the concomitant release
of carbon dioxide.
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Thirty-four per cent
of Hawaii's coastlines are vulnerable to intensifying coastal hazards resulting
from accelerating sea level rise, according to a study performed by researchers
at the university of Hawaii.

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The legislature further finds that in
response to the growing threat of climate change, the State has set standards
and launched initiatives to expand reliance on renewable energy, including
setting a statewide benchmark of generating one hundred per cent of the State's
electricity through renewable resources by 2045 and establishing a goal for the
statewide greenhouse gas emissions limit to be at least fifty per cent below
2005 levels by 2030.

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The legislature additionally finds that,
when S.C.R. No. 115, H.D. 1 (2025) was adopted, it affirmed the importance
of marine ecosystem restoration in achieving the State's decarbonization goals.

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Notably, this resolution also reasserted
a commitment to strengthening carbon accounting methodologies to assist in the
quantification and reduction of direct and indirect greenhouse gas emissions,
including emissions reduction achieved through marine ecosystem restoration.

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The legislature also finds that the G7
Climate, Energy, and Environment Ministers' Communique issued on April 16,
2023, affirmed the importance of nature-based solutions, including marine
ecosystem restoration, in halting and reversing biodiversity loss, mitigating
the impacts of climate change, and preserving and enhancing carbon sinks.

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Accordingly, the purpose of this Act is to:

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(1)
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Establish
a goal of the State to strengthen nature-based solutions that reduce carbon
emissions;

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(2)
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Direct
relevant state agencies that oversee natural resource management and carbon
sequestration to identify opportunities for investing in nature-based solutions
that reduce carbon emissions; and

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(3)
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Authorize
the Hawaii state energy office to evaluate and develop methodologies to assist
in the quantification of carbon emissions reductions that may be attained
through marine ecosystem restoration and other nature-based solutions.

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SECTION 2.
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Chapter 225P, Hawaii Revised Statutes, is amended by adding a new
section to be appropriately designated and to read as follows:

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"
�225P-
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Nature-based
carbon sequestration.
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(a)
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It shall be the goal of the State to
strengthen nature-based solutions that reduce direct and indirect carbon
emissions, including initiatives that promote carbon sequestration through
marine ecosystem restoration.

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(b)
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To the greatest extent possible, state agencies responsible for
overseeing carbon sequestration and natural resource management shall identify
opportunities for investing in nature-based solutions that reduce carbon
emissions, including the restoration of oceanic, coastal, wetland, and other
marine ecosystems.

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(c)
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The Hawaii state energy office may evaluate and develop methodologies to
assist in the quantification of carbon emissions reductions that may be
attained through marine ecosystem restoration and other nature-based solutions.

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(d)
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Any projects undertaken pursuant to this section shall be assessed for:

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(1)
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Carbon
sequestration potential;

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(2)
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Conservation
capacity;

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(3)
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Ability
to mitigate risk of natural emergencies, including wildfires;

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(4)
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Financial
sustainability; and

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(5)
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Alignment
with the State�s transition to a clean energy economy.
"

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SECTION 3.
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The Hawaii state energy office shall submit a report on its efforts to
fulfill the purposes of this Act, including any proposed legislation, to the
legislature no later than twenty days prior to the convening of the regular
session of
2027.

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SECTION 4.
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New statutory material is underscored.

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SECTION 5.
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This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

HSEO;
Nature-Based Carbon Sequestration; Carbon Emissions; Marine Ecosystem
Restoration; Report

Description:

Establishes
a state goal to strengthen nature-based carbon emissions reduction
solutions.
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Directs certain state
agencies to identify opportunities for investing in nature-based solutions that
reduce carbon emissions.
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Authorizes the
Hawaii State Energy Office to develop methodologies to quantify carbon
emissions reductions through marine ecosystem restoration and nature-based
solutions.
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Requires a report to the
Legislature.

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not legislation or evidence of legislative intent.