On June 16, the financing for 50 million dollars was announced in blue bonds for projects aimed at conserving water sources in the country.
This, in terms of protection of the environment and ecosystems in Colombia, may mean good news, taking into account that one of the flagship issues of the president’s government gustavo petro It is and has been the protection of water sources as a state policy.
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However, what are blue bonuses? What are they for and why are they so important?
What are blue bonds?
As explained by the BBVA bank, the blue bonds «They are debt issues that are intended to preserve and protect the oceans and their ecosystems.»
These have the particularity of taking advantage of the movement of public and private capital of a country to be a support for projects whose north is made from water sources and the promotion of the ‘blue economy’.
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Why are they so important?
As the bank explains, its importance is equivalent to that of the ocean, since this ecosystem represents more than 70% of the planet’s surface and is what helps regulate global temperature.
Colombia, being one of the countries with the greatest maritime diversity on the planet, according to the Ministry of Environment and Social Development, It was chosen as an appropriate space to promote projects that seek to save water sources.
According to the environmental foundation World Wildlife Foundation (WWF)In its continental and maritime territory, the country has six snow-capped mountains and more than 48,000 wetlands, including rivers, lakes, lagoons, swamps, and reefs.
«Blue finance is the emerging area in climate finance that generates the most interest from investors, financial institutions and issuers globally,» said Alicia Ferrer, chief investment officer at the International Finance Corporation (IFC), an entity attached to the World Bank, during the last Bank Convention held in Cartagena.
It is expected, then, that the blue economy, one that seeks to generate value from the country’s lack of water resources, can double to three trillion pesos in 2030, compared to 2010.