Bill Intended to Alter GEMS Program, Reduce Oversight, On Brink of Passage

posted in: May 2017 | 0

With a piddling fraction of a $146 million Green Energy Market Securitization (GEMS) fund being loaned out over two years, it is easy to understand legislators’ frustration with the program.

But will a new measure that the Legislature is poised to pass fix the problems that have beset GEMS? Or will it make things even worse by eliminating most of what little public oversight exists for the troubled program?

Gwen Yamamoto Lau, who heads up the Hawai`i Green Infrastructure Authority (HGIA) tasked with distributing GEMS loans, has made no secret of her belief that the agency has been hobbled . . .

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