The European Blue Economy Framework and Blue Bonds as new instruments of Blue Finance

In this chapter the author wants to investigate the growing relevance of the Blue Economy, considering in particular its European dimension, showing trends and drivers in creating a new Blue Economy Framework, necessary for pursuing the Goal n. 14 “Life below water” of the 17 SDGs of UN 2030 Agenda. The Blue Economy includes not only those activities regarding the sustainable use of oceans, seas and coasts, but also all ones that make possible to exploit ocean resources more efficiently and sustainably. In particular, the author, pointing out the necessity of the development of innovative financial instruments of Blue Finance, considers Blue Bonds as new instruments of Impact Investing able to reach this aim for re-orienting investments towards blue sustainable projects, underlining the necessary efforts for reaching a regulation of Blue Bond, actually absent, also following the Green Bond example as the most diffused Sustainable Bond. Also the rising Blue Bond Market will be analysed, in its recent issuances of Blue Bonds at a global and European level, and considering also some issuances of Green Bonds having blue elements, pointing out how the Blue Bond Market is just moving its first steps showing some critical issues, which yet need to be solved.