Browsing: Natural Disasters

 A blue bond is a relatively new form of a sustainability bond, which is a debt instrument that is issued to support investments in healthy oceans and blue economies, wherein earnings are generated from the investments in sustainable blue economy projects.

According to IDB Invest, Blue bonds can raise capital for projects and companies seeking to have a direct impact on the ocean and water-related issues while advancing in social inclusion, economic growth, environmental protection, and the broader 2030 agenda.

The World Bank is the biggest multilateral funder for ocean and water projects in developing countries and is committed to working with investors to highlight the critical need to support the sustainable use of ocean and marine resources which inarguably includes better waste management.

China had been funding the development and exploitation of massive coal reserves in countries like Indonesia and Vietnam under an initiative called the Belt & Road but has come under pressure as the world tries to honour its Paris climate agreements.

This Belt & Road initiative is a strategy initiated by the People’s Republic of China that seeks to connect Asia with Africa and Europe via land and maritime networks with the aim of improving regional integration, increasing trade and stimulating economic growth. 

To realize this vision required the use of natural resources which China does not have entirely but other nations do and would then secure supply of this through the development of resources such as coal mines in developing countries. The Chinese are reportedly developing a US$3 billion coal mine in the Hwange area of Zimbabwe.

As part of the requirements under the Kenyan Act, the government additionally established an Integrated Monitoring Reporting and Verification (Integrated MRV) system and published Kenya’s National Climate Change Action Plan 2018-2022 (NCCAP). The five year plan requires the government to develop “action plans”, providing mechanisms to assist stakeholders in bringing about low-carbon climate-resilient development. 

Angola boasts some of the most ambitious targets for transition to low carbon development in Africa, albeit having ratified the Paris Agreement in November 2020. Since then the country has launched a national development plan, established a climate observatory and implemented a continuous national emissions monitoring system.

In addition, Gambia is committed to reducing its GHG emissions unconditionally, by 2.4 per cent by 2025 having implemented the Sustainable Energy Action Plan in 2015, which sets out the country’s renewable energy targets and corresponding measures necessary for their achievement. It has also committed to terminating oil importation by 2025. Between 2020 and 2030, Ghana proposes to implement twenty mitigation and eleven adaptation programmes. The Democratic Republic of Congo (DRC) NDCs, commit the country to a 17 per cent reduction rate by 2030.