Q. With respect to Blue bond, which of the following given statement is/are correct?
1. India launched the world’s first sovereign blue bond.
2. It is issued to raise capital from investors to finance marine and ocean-based projects.
Select the correct answer using the codes given below:
Answer: B
Notes:
Explanation: Blue Bonds:
- A blue bond is a debt instrument issued by governments, development banks or others to raise capital from investors to finance marine and ocean-based projects (like sustainable oceanic resource mining and sustainable fishing) that have positive environmental, economic and climate benefits.
- The issuance of a blue bond enables investors to fulfil their corporate social responsibilities and generate benefits for the ocean.
- SEBI has proposed the concept of blue bonds as a mode of sustainable finance.
- The Republic of Seychelles launched the world’s first sovereign blue bond in 2018 raising a total of $15 million to advance the small island state’s blue economy.
Source: EPIC August 2022
