The market has risen to about US$7.2 billion ($9.69 billion) since the first blue bond was issued six years ago by the World Bank. It is now poised for further gains, said Willem Visser, emerging markets and impact fixed-income portfolio manager at T. Rowe Price.
T. Rowe Price Group Inc. is targeting a corner of the sustainable debt market that it sees growing fast over the next decade: blue bonds.
Blue bonds are debt instruments issued by companies or financial institutions to fund projects that help protect or revive the world’s oceans and waterways in the face of climate change, overfishing and pollution.
