The ocean surrounding Mahé, the largest island in the Seychelles region, is littered with inorganic material that will take years to decompose, which impacts the health of the ocean, its fish and coral populations, and tourism and fisheries in the area that are critical for the local economy. Mercy Partnership Fund investee Calvert Impact Capital is investing in a blue bond helping to protect these areas.
Calvert was one of three core impact investors that catalyzed the world’s first sovereign blue bond for the islands of Seychelles. The blue bond, issued by the Republic of Seychelles, funds sustainable marine conservation, expanded marine protected areas (MPAs), improvements to local fisheries, and climate conservation efforts. One initiative the blue bond supports started with four community members who noted how polluted the sea had become over the past decade. To ensure that future generations have cleaner oceans and food free from plastic and waste, they began a project to clean up areas around Mahé, while documenting the process to show the public the extent of the ocean pollution. Using the evidence videos gathered during the clean-up, the team is preparing to advocate for the creation of zero-dumping laws, which make it mandatory for fishing vessels to return with all waste to shore.
Calvert Impact Capital is one of more than 70 organizations around the world that has received a Mercy Partnership Fund loan to support its work. Read more about the work of Mercy Partnership Fund here.
Photo courtesy of SeyCCAT