Belize Showcases Successful Blue Bonds Initiative at SIDS International Conference

The Government of Belize and The Nature Conservancy (TNC) co-hosted a side event at the 4th International Conference on SIDS in Antigua and Barbuda. The event, titled “How Debt-for-Nature and Debt-for-Climate Swaps can Help SIDS Economies: Belize Case Study and Tools for Governments,” highlighted the success of the Belize Blue Bonds. This case study demonstrated how debt-for-nature and debt-for-climate swaps can assist SIDS countries in meeting their nature and climate commitments, fostering blue economy strategies, and increasing resilience to natural disasters without escalating national debt.

The TNC Nature Bonds Toolkit was officially launched during this event. Head of Delegation and Minister of Sustainable Development and Climate Change, Orlando Habet, inaugurated the meeting. Beverly Wade, Director of the Blue Bonds and Finance Permanence Unit, discussed the structure, benefits, and challenges of the Belize Blue Bonds from their inception to implementation. She also highlighted the targeted nature outcomes and impacts achieved to date.

The panels featured Wade, Kevin Bender, Director of the Nature Bonds Program at The Nature Conservancy; Jean Paul Adam, Former Minister of Finance for Seychelles; and Ambassador Jessye Lapenn, Senior Coordinator for Atlantic Cooperation from the United States. Ambassador Janine Felson, Deputy Permanent Representative of Belize to the United Nations, delivered the closing remarks.

In 2021, the Government of Belize, The Nature Conservancy, and the United States International Development Finance Corporation pioneered the Belize Blue Bonds as an innovative financial solution. The initiative enabled a BZD728 million debt conversion for marine conservation, significantly reducing Belize’s debt-to-GDP ratio and national debt by 12%. It also created long-term sustainable financing for conservation and secured commitments to protect up to 30% of Belize’s ocean space, among other conservation goals. To date, BZD18 million has been committed and invested in government and non-government partners through the Belize Fund for a Sustainable Future to achieve key marine conservation and responsible blue economy development targets.