"Blue Finance" international practice is getting better
September 27, 2021 08:38 Source: "China Social Sciences", September 27, 2021, Issue 2258 Author: Li Liangxiong

"Blue Finance" refers to the financial integration activity serving the sustainable development of the marine economy,It aims to promote marine economic development and marine environmental protection at the same time,On the basis of fully considered the potential impact of economic activities on the marine environment,Ensure through variety of financial services or financial product innovation to ensure the booming marine economy。In recent years,"Blue Finance" has received widespread attention from the international community,Relevant international institutions and organizations have conducted many beneficial explorations in this regard。Research、Develop "Blue Finance" related international rules,helps stimulate the "blue finance" market vitality,Promote the healthy and rapid development of marine economy。

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The sustainable development of marine economy is an important issue that the United Nations and other international institutions and organizations have paid attention to for a long time,UN "2030 Sustainable Development Agenda" will "protect and sustain the use of marine and marine resources as one of the goals for promoting sustainable development。The World Nature Foundation first released the "Sustainable Blue Economic Principles" in 2015,Developing marine economy must respect the integrity of the ecosystem,Long -term truly prosperous for human society。Later in 2018 with the European Union、European Investment Banks and other institutions have jointly released the "Declaration of Sustainable Blue Economic Financing Principles",propose a sustainable investment framework containing 14 principles,Calling the Bet365 lotto review financial industry to attach importance to the impact of economic activities on the marine environment,Comply with international regulations when investing,Pay attention to the sustainable development of the marine economy and the long -term interests of human beings,Improve the transparency of investment activities,Actively share successful experience and disclose the economy of investment activities appropriately、Society、Environmental impact。2020,United Nations Global Contract Organization and multiple institutions,initiated an initiative to accelerate the issuance of "Blue Bond",and published the "Guidelines for the Issuance of Blue Bonds",Explore the business issuance standards and processes of "blue bonds"。Generally speaking,Most of the above documents advocate that the development of "Blue Finance" should follow the following five principles。

The first is the principle of ocean protection,The principle of sustainable development of the ocean。This is the core principle of "Blue Finance",Emphasized "Blue Finance" to support the protection of marine environment and biological diversity,Projects that can promote sustainable development。

The second is the principle of financing diversity。Due to its large investment scale、cycle long、High risk,"Blue Finance" exists in participating subjects less、Mistration of financing period、Single questions such as financing tools or services,It is difficult to meet the needs of related funds。For this,The principle of financing diversity is mainly reflected in the wide nature of financing subjects、Diversification of financing instruments,that is, on one aspect,In addition to continuing to increase the capital investment of public institutions,Strive to guide private institutions to participate in "Blue Finance",Expand financing channels; on the other hand,To actively develop new financing tools,Provide a variety of financing services,Cover more projects。

Bet365 app download Third, the principle of scientific management and control risk。This principle requires the economy、Social and environmental value、Quantitative risk and system impact on the basis of overall and long -term evaluation,Precise evaluation of "Blue Finance" risk and decide correctly,Active prevention and control risk。Emphasized risk assessment needs to be based on information and data obtained through scientific research,When the information and data are not enough to comprehensively evaluate the risk,Be cautious。

Fourth, the principle of effective participation of the interest side。This principle requires to build a communication platform、Establish a dispute solution mechanism and other methods,Ensure that all stakeholders can conduct positive and effective communication,Discover and solve the problem in time。The interest party here mainly includes investors in the project、Local residents that may be affected、coastal countries or regions, etc.。

Five is the principle of cooperation in the international community。This principle requires to build a multi -level、Multi -dimensional、Multi -subject、Coordinated cooperation mechanisms in multiple fields,Share various types of information and successful experience,Strengthen international cooperation,Then expand the "blue finance" financing scale,Reduce financing risk。

  Diversified financing model

To further promote the sustainable development of marine economy and "blue finance",Relevant parties have conducted active exploration in the diversification of the "blue finance" financing model,At present, there are four main financing models。

The first is the influence financing mode。In this mode,Investment mainly comes from international financial institutions、Development aid agency、Non -Government Organization、Bet365 lotto review Enterprise、Charity Agency, etc.。Perform your social responsibility,Realize the positive social and environmental effects,The main purpose of investing in these institutions and organizations。In the past few decades,Influential investment model plays an important role in promoting the development of "Blue Finance"。

Second is subsidy financing mode,Generally through the government provided fiscal subsidies、Tax reduction and exemption、Promotion interest rates, etc.。For example,To promote the sustainable development of French fisheries,The French government provides fishermen with discount loans,It also provides fiscal subsidies to help upgrade fishery facilities。The Dutch government has established a special green investment fund,Make sure that the shipping industry can obtain a loan at a lower interest rate (usually 2%lower than the commercial interest rate)。

Third is debt financing mode,Generally refers to financing by issuing bonds and applying for loans。Debt financing is characterized by low risk and low returns coexist,The scale of financing can be large or small,Investment subject is a public agency、Private Enterprise、Multilateral Development Bank, etc.。A typical example of debt financing is the sovereign "blue bond" issued by Seychelles,This is a kind of government、Bonds issued by subjects such as Development Bank to investors,It aims to support the transition to sustainable fisheries,Support with a positive environment、Marine -related projects of economic and climatic benefits。For example,The Seychelle Government and the Nature Protection Association jointly carried out a pioneering、Debt conversion items designed to protect the marine environment,Seychelle promised to increase its ocean reserve area from 0.04%of the exclusive economic zone to 30%,Nature Protection Association contributed to help Seychelles repay Bet365 app download foreign debt。Under this framework,Seychelles Protection and Climate Adaptation Trust Fund established in 2016。This independent private trust fund uses the protection funds from the conversion of debt to the issue of "blue gift",To support marine protection work and implementation space plan。This is the world's first innovative natural protection project to compensate debts through the construction of marine reserves。

Fourth is a mixed financing model。In this mode,You can use "leverage effect",Combination of public sector financing and private sector financing,Use the government's credibility to increase the willingness to invest in private subjects,"Speak" more funds。The Development Aid Committee of the Economic Cooperation and Development Organization has used this financing method in development assistance,The "Mixed Financing Principles" published by it mentioned,Hybrid financing can help fill the gap in sustainable development of funding countries。

 "Blue Bond" brings a win -win situation

As a major financing product in the "Blue Finance" market,"Blue Bond" can bring a good effect of win -win results。The issuer can obtain long -term large -scale investment at a relatively low cost,This fits the financing demand of the ocean sustainable development project。For investors,Usually by the government、Policy financial institutions or "blue bonds" for the issuer as the issuer,Low payment risk,It can bring it more stable income,It also helps to create a image of good performance of social responsibility。For the whole society,"Blue Bond" can be supported by supporting various sustainable development projects,Help solve the difficulty of the development of marine economy、Low biological diversity protection benefits、Long pollution treatment cycle and other problems。

"Blue Bond" is an innovative marine protection financing product。September 2018,The World Bank issued Bet365 lotto review its first "blue bond",It is planned to raise $ 3 billion in funds in 7 years,Used to improve the global public's understanding of ocean and water resources。2019,Nordic Investment Bank issued "Blue Bond" named "Nordic -Baltic Sea",The deadline is 5 years,The total distribution is 2 billion Swedish Krona,The funds raised will be used for sewage treatment and water pollution prevention、Rainwater management and flood control system construction、Water resources protection、Water source and marine ecosystems and related biological diversity protection and repair。September 2020,Bank of China successfully issued a two -currency "blue bond",Raising funds to support marine -related sewage treatment projects and maritime wind power projects。

Current,The "Blue Bond" market is still in the initial development stage,The types and quantities of the "Blue Bonds" that have been issued are not many。This is to some extent because the business issuance standards and processes of "blue bonds" are only embossed,Lack of internationally recognized、executable "Blue Bond" standard and certification procedures,The existing "blue bonds" are all under the "green bond" framework,Refers to the issuance of "Green Bond" related systems such as "Climate Bond Standards" and "Green Bond Principles",It is necessary to further strengthen in terms of reflecting and fitting the particularity of the "Blue Bond"。

To sum up,In order to give full play to the new engine of "Blue Finance" in the sustainable development of the marine economy、New kinetic effect,It should be continuously refined relevant principles,Establish a sound and widely applicable standards and processes,Continuous innovation、Rich "Blue Finance" financing model and product,Realize high quality of marine economy、Sustainable development。

(This article is the major topic of the Ministry of Education and Social bet365 best casino games Science Research on Philosophy and Social Sciences Research Project "my country Ocean Sustainable Development and Island Revitalization Strategy Strategy" (18jzd059) phased achievement)

(Author Unit: College of Finance, Jiangxia College, Fujian)

Editor in charge: Changchang
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