Commonwealth Launches Practical Guide To Unlock Blue Bond Finance For Ocean Protection

22 January 2026, London, UK: The Commonwealth Secretariat launched The Commonwealth Guide to Blue Bond Issuance at its inaugural environmental resilience day, held at Marlborough House. It is a practical, user-focused resource to help governments unlock innovative finance to protect the ocean while delivering benefits for people and nature.

The guide was developed under the direction of the Commonwealth Blue Finance Working Group (BFWG) established through the Commonwealth Blue Charter. The Charter is an agreement by Commonwealth countries to actively cooperate to solve ocean-related challenges and meet commitments for sustainable ocean action.

Guidance will enable countries to assess, design and implement credible sovereign blue bond programmes, helping governments to make informed, practical decisions that balance sustainability goals with fiscal realities.

Commonwealth Secretary-General Hon Shirley Botchwey said that the BFWG was established to help mobilise capital for marine conservation and sustainable ocean-based development. She said:

“The Commonwealth Guide to Blue Bond Issuance responds to calls from our member countries for practical guidance on how to turn ambition into action. Across the Commonwealth, the urgency to protect our marine and coastal environments has never been greater. Blue bonds offer a promising path forward – linking sound economic planning with environmental stewardship and signalling to global investors that sustainability and prosperity can, and must, advance together.”

The Ocean Risk and Resilience Action Alliance (ORRAA), co-convenors of the BFWG, supported the process. Karen Sack, Executive Director, ORRAA, said:

“Blue bonds are vital for mobilising long-term finance to build coastal resilience and regenerate our ocean, with the market now poised for growth. As co-convenors of the Commonwealth Blue Finance Working Group, ORRAA is proud to support this guide, providing officials with step-by-step guidance to turn ambition into action.”

Through the Blue Bond Accelerator, an ORRAA initiative, the guide will support governments and partners to develop pipelines for bankable projects to catalyse new blue bond issuances.

The Commonwealth Guide to Blue Bond Issuance was prepared by Beth Siddons, Claire Hedley, and Lucy Greenhill (Howell Marine Consulting), Arlette Schramm and Philip AS James (UNSW Centre for Sustainable Development Reform), together with the Commonwealth Secretariat Ocean section.

The toolkit includes guidance to work through sovereign blue finance pathways, confidently tackling the three phases of blue bonds issuance – with practical checklists - and identifying the stakeholders and their roles throughout the process.

The Commonwealth Secretariat, ORRAA, and the Blue Bond Accelerator will host a series of webinars to help member countries put the guide into practice and mobilise finance for ocean conservation.

Notes

• The Commonwealth is a voluntary association of 56 independent and equal sovereign states. Our combined population is 2.7 billion, of which more than 60 per cent is aged 29 or under.
• The Commonwealth spans the globe and includes both advanced economies and developing countries. Thirty-three of our members are small states, many of which are island nations.
• The Commonwealth Secretariat supports member countries to build democratic and inclusive institutions, strengthen governance and promote justice and human rights. Our work helps to grow economies and boost trade, deliver national resilience, empower young people, and address threats such as climate change, debt and inequality.
• Member countries are supported by a network of more than 80 intergovernmental, civil society, cultural and professional organisations.

About ORRAA

The Ocean Risk and Resilience Action Alliance (ORRAA) is the only multi-sector collaboration connecting the finance and insurance sectors, governments, multilateral organisations, civil society, and local partners, to pioneer finance and insurance products that incentivise investment into coastal and ocean resilience, and through Nature-based Solutions.

The mission, by 2030, is to activate at least USD$500 million of investment to build the resilience of 250 million climate vulnerable coastal people in the Global South.

ORRAA is delivering system-wide change by growing an investable product pipeline and generating the transformative investment instruments, vehicles and policies that contribute to a regenerative and sustainable blue economy. These solutions enable coastal communities and the Ocean to adapt and thrive, creating greater economic, social and cultural resilience.

https://oceanriskalliance.org/

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