In his June 28, 2021, Investment Week article, McGuireWoods London partner Marc Naidoo discussed how, after a promising start, the rise of blue bonds has stymied, sidetracked by green deals.
Naidoo provided a brief recap of the trajectory of blue bonds. He explained how the blue economy — sustainable use of ocean resources for economic growth — has potential for development but is not gaining traction in the general landscape of environmental, social and governance (ESG) issues.
In conclusion, he said sustainable finance players should take the lead creating more blue deals to ensure that blue bonds remain an option in the spectrum of ESG instruments. “It is only then that we can develop these other sectors and ensure that the blue bond was not in fact, a false start,” he said.