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Published in:
2021 | OriginalPaper | Chapter
15. Blue Bonds and Seascape Bonds
Author : Brian Joseph McFarland
Published in: Conservation of Tropical Coral Reefs
Publisher: Springer International Publishing
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Abstract
Green bonds, particularly blue bonds applied to the marine sector, are a newly emerging conservation finance instrument. The author presents an historical overview, provides more details on the instrument’s mechanisms, outlines the size of the instrument, presents one case study, and then undertakes both a financial analysis and a policy analysis, along with a future outlook. The case study examines the Seychelles’ Blue Bond. The Seychelles has undertaken several innovative financing schemes, including the Seychelles’ Climate Adaptation and Impact Investment Debt Swap. The Seychelles’ Blue Bond is the first blue bond with funds ring-fenced to fund “sustainable fisheries and marine projects.” The USD$25 million financing arrangement includes the bond issuance, along with assistance from the World’s Bank International Bank for Reconstruction and Development (IBRD) and the Global Environment Facility (GEF).