On 29 October 2018, the Seychelles government announced the launch of the world’s first sovereign blue bond. The proceeds of the bond were to be used in developing and protecting marine ecosystems in and around the island state.
This was a pioneering financial instrument that brought into focus United Sustainable Development Goals six (clean water and sanitation), eight (decent work and economic growth), nine (industry, innovation and infrastructure), 11 (sustainable cities and communities), 13 (climate action) and, arguably most importantly, 14 (life below water). A remarkable number of goals to hit with just one instrument. The ticket, $15 million, was by no means the biggest note issue for a sovereign state, but it marked the start of a divergent path from traditional ESG financing. For those that have be...
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