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Blue bonds get boost from TNC and World Bank

TNC aims for $1.6 billion impact of blue bonds by 2025; Morgan Stanley commits to financing plastic reduction for oceans.

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Ocean conservation finance (blue finance) took a large step forward in April on the back of two announcements.

The first came from The Nature Conservancy (TNC), which revealed its plans to put $1.6 billion to work towards marine conservation through the delivery of blue bonds during the next five years.

TNC tested its blue bond idea in the Seychelles starting in 2012, a deal that was a combination of debt restructuring and debt forgiveness, which launched in October 2018.

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Mark Tercek, TNC

TNC CEO Mark Tercek says the organization has highlighted another 20 countries that could benefit from a similar structure.

Coastal or island nations would commit to protecting at least 30% of near-shore ocean areas, including coral reefs, mangroves and other important ocean habitats and species, and, in exchange, TNC helps restructure a portion of the nation’s sovereign debt.

New marine protected areas (MPAs) are then developed by TNC in partnership with local communities and governments, and are funded by savings from the debt restructuring, philanthropic dollars or impact investments.




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