The Nature Conservancy – Blue Bonds
Nature
In 2015, Lyda gave a catalytic grant to The Nature Conservancy (TNC) to support the world’s first debt conversion for marine conservation and climate change adaptation in Seychelles. TNC facilitated a $30 million debt swap with the Seychelles government to create a science-based ocean management plan for the nation.
Intervention
The Seychelles agreed to designate 30% of its 100-million-acre exclusive economic zone as new marine protection areas. TNC helped to establish the Seychelles Conservation and Climate Adaptation Trust (SeyCCAT) as an independent, public-private trust fund to manage the debt swap.
Impact
Catalyzed by the success of the first ever Blue Bond in the Seychelles, TNC launched its Blue Bond initiative on the TED Audacious Project stage. Philanthropists, including Lyda Hill Philanthropies, raised $38.5M to help 20 countries restructure their national debt, place 30% (up from 0.04%) of their oceans under permanent protection, as Seychelles demonstrated, and ensure benefit to the local populations through tourism, fisheries, and other sustainable activities. The success of this project has unlocked $1 billion for future conservation, climate resilience, and sustainable development across TNC Nature Bonds projects in Belize, Barbados, Gabon, The Bahamas, and Ecuador. By protecting reefs and fish populations, the project strengthens the fishing and tourism industries, which together employ 45% of the Seychelles workforce.
Impact Factors
- Systems Change
- Catalytic
- Transformative
- Enabling Public Investment
- Scalable
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