The World Bank have launched a Sustainable Development Bond series to raise awareness of the importance of ocean resources.
The international financial institution is planning to raise $3 billion to protect oceans and marine life. The World Bank brought about the water bond, gender, health and nutrition bonds, to give investors opportunity to work towards the Sustainable Development Goals (SDG) set in 2015.
World Bank focus for the new bond series is to support SDG 6, Clean Water and Sanitation. The bond series is framed by World Water Week, took place just last week, and the “Our Ocean” conference in Bali set for October., The World Bank also “Work with countries to promote strong governance of marine and coastal resources to support sustainable fisheries and aquaculture, make coastlines more flexible, establish coastal and marine protected areas, and reduce pollution .”
Currently, this has resulted in 100,000 marine mammals and turtles being killed by plastic litter each year globally. World Bank Vice President and Treasurer, said: “Following bonds issued earlier this year was to raise awareness for gender and health and nutrition. It is pleasing to introduce this new initiative and engage with investors around, clean water and healthy oceans, lifelines for people and economies all over the world.