Belize’s Blue Bonds Success Highlighted at COP28

At COP28, Belize’s Blue Bonds also made an appearance. It was highlighted at the “Big Ocean States: Resilience & Adaptation, a side event held at the Monash Pavilion in the Blue Zone. The primary goal was to tackle the unique challenges faced by major oceanic states, with a specific focus on eliciting input from panelists to formulate robust climate-related actions and strategies. Representing Belize was the Director of the Blue Bonds, Beverly Wade.

Beverly Wade

Beverly Wade, Director of Blue Bonds
“Nature bonds is being highlighted as one of those primary opportunity and so there is a lot f interaction in terms of learning from Belize. Having an understanding now since we are two years into implementation with regards to the impacts that are on the ground, how Belize approaching them. Secondly, it is important for us because Belize is now leveraging the success of its Blue Bond. So now we are talking about singing off on a project finance project that’s leverage the success of the Blue Bond, building on what would have been achieved by the Blue Bonds, going a step further in terms of climate ambitions, our blue NDCs and also conservation but also looking at putting key structures to ensure livelihood security, to ensure resiliency in people. And also it have myself an opportunity to meet with our bondholders who are our clients currently to talk to them, to hear what are some of the questions they have and to continue to instill the confidence that they have in Belize that prompted their investment in the first. There is a space for them to invest from the private sector perspective that is a good investment in terms of they are getting returns but also in terms of them having an impact and being responsible from a corporate perspective.”

Hipolito Novelo

“We are up to date with our Blue Bonds commitments?”

Beverly Wade      

“We are very much on time with our delivery on our Blue Bond milestone. We have delivered three milestones so far. We have to date twenty point three percent of our total ocean space protected. We have designated all existing national lands within our World Heritage sites as mangroves reserves and we have initiated the marine spatial planning process. Milestone four is due November of next year and from our field on the ground we will meet that milestone which is to take up the percentage of protection to twenty five percent.”