Not all coastal nations feel inclined to spend money and time protecting the bodies of water that sit beside them, especially when there are other big issues to address such as improving infrastructure. That’s why global non-profit The Nature Conservancy (TNC) has announced a $1.6 billion plan to help save and restore the world’s oceans by selling “blue bonds” to coastal and island countries. The Blue Bonds for Conservation initiative will refinance and restructure debt for coastal and island countries, so long as those nations commit to protecting at least 30 percent of their near-shore ocean areas, including coral reefs, mangroves and other important ocean habitats. In other words, the Blue Bond will give nations better terms for debt repayment and support with ongoing conservation work in exchange for enhanced ocean protections. TNC says it already has secured more than $23 million in funding from donors towards the $40 million required to kickstart the scheme — which it is hoped eventually could unlock $1.6 billion in ocean conservation funding. Over the next five years, it plans to deliver Blue Bonds in up to 20 countries, protecting an additional 1.5 million square miles of the most biodiverse ocean.
This nonprofit wants to save the oceans with “blue bonds” for coastal nations
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