The World Bank has issued a $28.6 million five-year Sustainable Development Bond to help protect the world’s water resources.
Credit Suisse Securities acted as the sole manager of the transaction – together, the two organisations note that rivers, lakes and oceans provide a vital resource for people, livelihoods and the planet and stress they must be safeguarded.
The bond will support a wide range of marine projects, including those helping sustainable fisheries and aquaculture, making coastlines more resilient, establishing protected coastal and marine areas and improving waste management to reduce pollution.
They say this approach supports economic growth, social inclusion and the improvement of livelihoods while also ensuring the environmental sustainability of oceans and coastal areas.
Marisa Drew, CEO of the Impact Advisory and Finance Department at Credit Suisse, said: “Credit Suisse is delighted to partner with the World Bank to highlight the need for investment in one of the most important ecosystems for fighting climate change and creating sustainable livelihoods for billions of people – the ocean value chain.
“Absorbing approximately 30% of the carbon dioxide created by humans and generating 50% of the world’s oxygen, yet significantly underfunded from a private capital perspective, ocean health is critical.”