Blue Bond

A blue bond is a debt instrument whose proceeds fund ocean conservation and the sustainable use of marine resources, the maritime analogue of a green bond. The Republic of Seychelles issued the first sovereign blue bond in 2018, raising US$15 million to support sustainable fisheries and marine protected areas, partly through a debt-for-nature swap. Subsequent deals have financed marine protection and aquaculture, though investors scrutinize the measurable environmental outcomes tied to the proceeds.