SEBI has proposed the ‘blue bonds’ for sustainable finance
- It will be a debt instrument to support investments in healthy oceans and blue economies (i.e. use of ocean resources for economic growth)- sustainable exploitation of ocean resources, fishing, and extracting renewable energy.
- It will catalyse progress towards SDG 14 (Life Below Water)
- UN Decade of Ocean Science for sustainable development (2021-2030)
- First Blue Bond: the Republic of Seychelles, in 2018, was the first to come with a sovereign blue bond.
- Other similar types of bonds: Green Bond : used to fund projects that have positive environmental and/or climate benefits