Quantcast
Popular
Eric Volto / Getty Images

World Bank Launches Bond Series to Raise Awareness About Water and Ocean Resources

The World Bank launched the first in a series of bonds designed to raise awareness about the importance of ocean and water resources, the organization announced last Thursday.

The series was announced in conjunction with World Water Week, which took place in Stockholm from August 26 to 31 and gathered experts, business people and decision makers from around the world to discuss solutions to water issues.


"Seventy percent of the planet's surface is water, yet degraded ocean resources and lack of access to safe water negatively affect the lives of hundreds of millions of people. Through this bond series we will remind investors and the markets that we must protect our water and marine resources today for the generations of tomorrow," World Bank CEO Kristalina Georgieva said when the bond series was announced August 29.

The series intends to raise $3 billion and allow investors to demonstrate their support of the UN Sustainable Development Goals (SDGs).

This series will focus specifically on goal 6: "Ensure availability and sustainable management of water and sanitation for all" and goal 14: "Conserve and sustainably use the oceans, seas and marine resources for sustainable development."

The first bond was priced at one billion Swedish Krona (SEK) and will last seven years.

"We are very pleased to price this SEK-denominated Sustainable Development Bond, so soon after we announced our new initiative. The demand for this bond shows that investors are aware of the critical need to protect water, our most precious resource, and to ensure a sustainable future," World Bank Vice President and Treasurer Arunma Oteh said in the pricing announcement.

Major European investors in the bond include Swedish investors AP1, SEB Företagsobligationsfond, SPP Storebrand and Swedbank Robur Fonder AB.

"The decision of the World Bank to launch an initiative to raise awareness for the health of oceans and urgent need for clean water through their Sustainable Development Bond issues, is very much welcomed by investors. We see increased interest from our investors to understand risks around water management and the need to protect oceans. Engaging with the World Bank and others around this topic is extremely helpful," Head of Climate & Sustainable Finance at SEB Christopher Flensborg said in the World Bank announcement.

The World Bank hopes to use the bonds to channel the support of investors towards two goals: sustainable use of water in order to increase access to safe and reliable water sources and sustainable use of ocean resources and marine life.

The new bond series, and World Water Week, come as the UN has reported that the world is off-track to meeting SDG 6, development media outlet Devex reported.

Eighty-percent of countries do not have enough money to meet the SDG targets and the World Water Week consensus was that more private money is essential to help them do so, according to Devex.

Show Comments ()

EcoWatch Daily Newsletter

Sponsored
Popular
The Revelator

Interactive Map: Air Pollution in 2100

By Dipika Kadaba

Having a little trouble breathing lately? That's no surprise. Air pollution is already bad in many parts of the country, and climate change is only going to make it worse. Even though many industries are reducing their emissions, a warming climate could actually offset these reductions by intensifying the rates of chemical reactions and accumulation of pollutants in the environment.

Keep reading... Show less
Health
ddukang / iStock / Getty Images Plus

Is Apple Cider Vinegar Good for You? A Doctor Weighs In

By Gabriel Neal

When my brother and I were kids back in the '80s, we loved going to Long John Silver's.

Keep reading... Show less
Animals

Dumpster Debacle Distracts From Serious Spike in Whale Deaths

This week, a video of a failed attempt to put a dead, 4,000-pound whale into a tiny dumpster made the rounds on the internet, garnering chuckles and comparisons to Peter Griffin forklifting and impaling a beached sperm whale on Family Guy.

The juvenile minke whale washed up on Jenness Beach in Rye, New Hampshire on Monday morning, NBC 10 Boston reported. It was found with entanglement wounds, so researchers with the Seacoast Science Center and the National Oceanic and Atmospheric Administration (NOAA) wanted to move the carcass from the beach to a lab for a necropsy to study its death.

Keep reading... Show less
Adventure
Muir Woods, which costs $10 for entry, will have free entry on Sept. 22. m01229 / Flickr / CC BY-NC 2.0

Visit Any National Park for Free This Saturday to Celebrate 25th National Public Lands Day

If you're stuck for plans this weekend, we suggest escaping your city or town for the great outdoors.

This Saturday marks the 25th National Public Lands Day, organized by the National Environmental Education Foundation (NEEF).

Keep reading... Show less
Sponsored
Climate
A glacier flows towards East Antarctica. NASA Goddard Space Flight Center / CC BY 2.0

Temperatures Possible This Century Could Melt Parts of East Antarctic Ice Sheet, Raise Sea Levels 10+ Feet

A section of the East Antarctic Ice Sheet that contains three to four meters (approximately 10 to 13 feet) of potential sea level rise could melt if temperatures rise to just two degrees above pre-industrial levels, a study published in Nature Wednesday found.

Researchers at Imperial College London, the University of Queensland, and other institutions in New Zealand, Japan and Spain looked at marine sediments to assess the behavior of the Wilkes Subglacial Basin during warmer periods of the Pleistocene and found evidence of melting when temperatures in Antarctica were at least two degrees Celsius above pre-industrial levels for periods of 2,500 years or more.

Keep reading... Show less
Energy
Oil well in North Dakota. Tim Evanson / Flickr / CC BY-SA 2.0

Pipeline Leaks 63,840 Gallons of Produced Water in North Dakota

A pipeline released 63,840 gallons (1,520 barrels) of produced water that contaminated rangeland in Dunn County, North Dakota, the Bismarck Tribune reported, citing officials with the North Dakota Department of Health.

Produced water is a byproduct of oil and gas extraction, and can contain drilling chemicals if fracking was used.

Keep reading... Show less
Sponsored
Insights
Residents stand in a long queue to fill water containers on May 27 in Shimla, India. Deepak Sansta / Hindustan Times / Getty Images

World Peace Requires Access to Safe Water

International Peace Day is Sept. 21. Mekela Panditharatne, attorney with the Natural Resources Defense Council, submitted the following op-ed to EcoWatch in commemoration.

In drought-ravaged East Africa, the cracks in the plains echo the fault lines splitting tribes.

Across the globe, the devastation of deadly brawls is being exacerbated by tensions over access to water. Water crises, often worsened by governance failures, can portend warning signs for instability and conflict. This year, the World Resources Institute cautioned that water stress is growing globally, "with 33 countries projected to face extremely high stress in 2040." The effects of such water stress span the gamut from civil unrest to open warfare.

Keep reading... Show less
Food

How Your Personality Type Could Influence Your Food Choices

By Melissa Kravitz

"You are what you eat" may be one of the oldest sayings ever to be repeated around the dinner table, but can you also eat what you are?

Keep reading... Show less
Sponsored

mail-copy

The best of EcoWatch, right in your inbox. Sign up for our email newsletter!