Investing in the Blue Economy: How Should Impact Be Measured?


The Republic of Seychelles recently launched the world’s first sovereign blue bond, aimed at moving the nation towards becoming a ‘blue economy’. Of the $15 million raised, $3 million was earmarked for the Blue Grants Fund, controlled by the Seychelles’ Conservation and Climate Adaptation Trust (SeyCCAT).

With this new injection of capital, SeyCCAT CEO Angelique Pouponneau wanted to create a high-impact investment fund, to develop an ecosystem of sustainable businesses. Angelique was faced with the challenge of defining what it means for a business to be truly sustainable. How do we measure social, environmental, and financial outcomes against each other? What trade-offs can we accept in each of these areas? What sort of return should impact investors expect?