Thegef: Seychelles launches World’s First Sovereign Blue Bond

 

 

The Republic of Seychelles has launched the world’s first sovereign blue bond—a pioneering financial instrument designed to support sustainable marine and fisheries projects.

 

 

The bond, which raised US$15 million from international investors, demonstrates the potential for countries to harness capital markets for financing the sustainable use of marine resources. The World Bank assisted in developing the blue bond and reaching out to the three investors: Calvert Impact Capital, Nuveen, and Prudential.

 

 

“We are honored to be the first nation to pioneer such a novel financing instrument. The blue bond, which is part of an initiative that combines public and private investment to mobilize resources for empowering local communities and businesses, will greatly assist Seychelles in achieving a transition to sustainable fisheries and safeguarding our oceans while we sustainably develop our blue economy,” said Vincent Meriton, Vice-President of the Republic of Seychelles, who announced the bond at the Our Ocean Conference in Bali.

 

 

Proceeds from the bond will include support for the expansion of marine protected areas, improved governance of priority fisheries and the development of the Seychelles’ blue economy. Grants and loans will be provided through the Blue Grants Fund and Blue Investment Fund, managed respectively by the Seychelles’ Conservation and Climate Adaptation Trust (SeyCCAT) and the Development Bank of Seychelles (DBS).

 

 

“The World Bank is excited to be involved in the launch of this sovereign blue bond and believes it can serve as a model for other small island developing states and coastal countries. It is a powerful signal that investors are increasingly interested in supporting the sustainable management and development of our oceans for generations to come,” said Laura Tuck, Vice President of Sustainable Development at the World Bank.

 

 

Seychelles is an archipelagic nation consisting of 115 granite and coral islands. It has a land area of 455 km2 spread across an Exclusive Economic Zone of approximately 1.4 million km2. As one of the world’s biodiversity hotspots, Seychelles is balancing the need to both develop economically and protect its natural endowment.

 

 

Marine resources are critical to the country’s economic growth. After tourism, the fisheries sector is the country’s most important industry, contributing significantly to annual GDP and employing 17% of the population. Fish products make up around 95% of the total value of domestic exports.

 

 

“The Seychelles blue bond is a significant milestone in our long-standing support for ocean conservation, and the GEF is proud to invest in developing national blue economies that protect the rich marine ecosystem while supporting economic growth, improved livelihoods and jobs,” said Naoko Ishii, CEO and Chairperson of the Global Environment Facility (GEF).

 

Read more...

Go back

CBFP News

CNN- Brazil's Amazon rainforest is burning at a record rate, research center says

(CNN)Fires are raging at a record rate in Brazil's Amazon rainforest, and scientists warn that it could strike a devastating blow to the fight against climate change...The European Union's satellite program, Copernicus, released a map showing smoke from the fires spreading all along Brazil to the east Atlantic coast. The smoke has covered nearly half of the country and is even spilling over into neighboring Peru, Bolivia and Paraguay.

Read more …

The CBFP in the heartland of Malabo: Sixth CBFP Council mobilizes stakeholders

Malabo (Equatorial Guinea) 13 June 2019 - Sixth CBFP Council Meeting.  The High-Level Policy Dialogue was chaired by His Excellency Mr. François-Xavier de Donnea, Minister of State, CBFP Facilitator of the Kingdom of Belgium. The meeting was graced by politicians, Ministers of Forests/Environment of Central African countries and senior representatives of ECCAS, COMIFAC, OCFSA and GVTC.

Read more …

High-Level Policy Dialogue between members the Regional College and CBFP donors, a resounding success

Malabo, Equatorial Guinea, 12 June 2019:  A high-level Policy Dialogue was held between the members of the CBFP Regional College (Member states, COMIFAC and ECCAS) and the technical and financial partners of the CBFP Donors’ College. 

Read more …

Abidjan Resolution on REDD+ in Africa: The Executive Secretariat of COMIFAC to provide the Secretariat for the REDD+ Investment Forum in Africa...

Experts representing countries engaged in REDD+ in Africa, meeting in Abidjan on 13 and 14 of August 2019, at the international workshop on the formulation of REDD+ project investments in Africa... The participants decided also to establish regional focal points to facilitate the work of the Interim Secretariat...

Read more …

The Business of Conservation Conference, September 8-9, 2019. Kigali, Rwanda

Since we opened registration for the 2019 Business of Conservation Conference, the response has been overwhelming and spots are filling up very quickly! We hope you are as eager as we are to power Africa’s wildlife economy together. At BCC2019, we aspire to bring together doers who are actively driving benefit to both nature and people.  If you are such a doer, you may be wondering: “How can I actively participate in the event and tangibly build relationships?” There are 5 concrete ways you can do this…

Read more …

FSC-Second Congo Basin Community Report

With this second Community report we would like to update you on the progress of the action points identified at the Libreville Gabon meeting in June 2019 and general developments. If you have information, views or opinions that you want to share in this quarterly report please do not hesitate to send us your content.

Read more …

Sciencedirect-Certification of tropical forests: a private instrument of public interest? A focus on the Congo Basin

This article takes stock of the current process of institutionalising forest certification in the Congo Basin and analyses current interactions between the FLEGT process and certification. The article highlights the limitations of the VPAs concluded between the Congo Basin countries and the EU, and proposes a new distribution of roles between public and private instruments, namely the FLEGT/EUTR combined apparatus and certifications, and a mechanism of financial incentives based on differentiated forest taxation to support certified companies and encourage new ones to follow suit.

Read more …

COMIFAC National Coordination Units hold consultations in Brazzaville

Brazzaville, Republic of Congo, 04-06 June 2019. The 9th consultation workshop of the COMIFAC National Coordination Units took place at the Mikhael’s Hotel.The meeting’s overall objective was to strengthen the capacities and performance of the COMIFAC National Coordination Units in the discharge of their mission in line with national, regional and international agendas in the forestry and environmental sectors.

Read more …

CBFP News Archive

2019

GEF Newsletter | June 2019
The Cafi Dialogues
Forest Watch April 2019
Forest Watch March 2019