The International Finance Corporation (IFC), a member of the World Bank Group, together with the International Capital Market Association (ICMA), United Nations Global Compact (UN Global Compact), United Nations Environment Programme Finance Initiative (UNEP FI), and the Asian Development Bank (ADB) have developed a global practitioner's guide for bonds to finance the sustainable blue economy.
Released today, the voluntary guidance provides market participants with clear criteria, practices, and examples for “blue bond” lending and issuances. Gathering input from the financial markets, ocean industry and global institutions, it provides information on the key components involved in launching a credible “blue bond,” how to evaluate the environmental impact of “blue bond” investments; and the steps needed to facilitate transactions that preserve the integrity of the market.
The new global guidance helps:
• Suggest key performance indicators;
• Showcase latest case studies from the field; and
• Highlight the critical need for increased financing to achieve Sustainable Development Goal 14, and other global sustainability targets.