Commonwealth launches practical guide to unlock blue bond finance for ocean protection

The Commonwealth Guide to Blue Bond Issuance was developed under the direction of the Commonwealth Blue Finance Working Group (BFWG) established through the Commonwealth Blue Charter.  The Charter is an agreement by Commonwealth countries to actively cooperate to solve ocean-related challenges and meet commitments for sustainable ocean action.

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The guide will enable countries to assess, design and implement credible sovereign blue bond programmes, helping governments to make informed, practical decisions that balance sustainability goals with fiscal realities.

Commonwealth Secretary-General Hon Shirley Botchwey said that the BFWG was established to help mobilise capital for marine conservation and sustainable ocean-based development. She said:

“The Commonwealth Guide to Blue Bond Issuance responds to calls from our member countries for practical guidance on how to turn ambition into action. Across the Commonwealth, the urgency to protect our marine and coastal environments has never been greater. Blue bonds offer a promising path forward – linking sound economic planning with environmental stewardship and signalling to global investors that sustainability and prosperity can, and must, advance together.”

The Ocean Risk and Resilience Action Alliance (ORRAA), co-convenors of the BFWG, supported the process. Karen Sack, Executive Director, ORRAA, said:

“Blue bonds are vital for mobilising long-term finance to build coastal resilience and regenerate our ocean, with the market now poised for growth. As co-convenors of the Commonwealth Blue Finance Working Group, ORRAA is proud to support this guide, providing officials with step-by-step guidance to turn ambition into action.”

Through the Blue Bond Accelerator, an ORRAA initiative, the guide will support governments and partners to develop pipelines for bankable projects to catalyse new blue bond issuances.

The Commonwealth Guide to Blue Bond Issuance was prepared by Beth Siddons, Claire Hedley, and Lucy Greenhill (Howell Marine Consulting), Arlette Schramm and Philip AS James (UNSW Centre for Sustainable Development Reform), together with the Commonwealth Secretariat Ocean section.

The toolkit includes guidance to work through sovereign blue finance pathways, confidently tackling the three phases of blue bonds issuance – with practical checklists - and identifying the stakeholders and their roles throughout the process.

The Commonwealth Secretariat, ORRAA and the Blue Bond Accelerator will host a series of webinars to help member countries put the guide into practice and mobilise finance for ocean conservation.

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