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The Blue Economy – Making Waves
T. Rowe Price and the International Finance Corporation (part of the World Bank Group) are partnering to grow the blue bond market to address the planetary and societal risks posed by the current underfunding of the blue economy.
The Blue Economy – Where Opportunity Meets Impact
The economic potential of the world’s oceans and water resources is immense, but under threat from multiple environmental and social factors. Innovations in blue financing can play an important part in creating a protected and sustainable water economy.
The blue economy represents a diverse and growing investment opportunity, spanning multiple industries from tourism to marine transport. The OECD expects the blue economy to double to US$3 trillion by 2030 versus 20101. At the same time, oceans and water resources are under threat from climate change, pollution, overfishing, and habitat damage, among a host of other pressures. Blue bonds recently emerged as a crucial tool to help support the blue economy and play a part in tackling the threats to the world’s water resources.
T. Rowe Price launches Blue Bond Emerging Markets Strategy to help catalyze finance for a sustainable blue economy
Case Study: Emirates NBD
In January 2026, Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, completed a landmark transaction with the largest dual-tranche blue-green bond issued by a financial institution globally. T. Rowe Price played an instrumental role for this transaction by leveraging our experience in sustainable finance, providing guidance on use of proceeds and KPIs, and by aligning the issuance of the bond with industry standards such as IFC guidelines.
Case Study: Sabesp
In July 2025, Sabesp completed its first blue bond issuance, its first international bond issuance in two decades. T. Rowe Price played a pivotal role supporting this transaction, not only through its role as an anchor investor, but also through engaging with the company providing valuable input in strengthening the Blue Sustainable Finance Framework and the deal structure.
Video: The Evolution of the Blue Bond Market
A discussion with T. Rowe Price and EQ Investors
In the Spotlight
More than Shipping - Shipbuilders are key enablers of the decarbonisation of marine shipping
Cutting CO2 emissions in half is a complex, multifaceted challenge that requires a combination of technological innovation, regulatory measures, economic incentives, and collaborative efforts.
Turning the Tide Together: Building the Blue Economy
In September 2024, T. Rowe Price held its inaugural Blue Economy Summit in New York, where stakeholders from financial institutions, scientists, and policymakers discussed how innovation, collaboration, and financial solutions can address the challenges of protecting ocean ecosystems while fostering sustainable economic growth.
Sustainable Investment Awards 2024 Winner: ESG investment initiative of the year, Americas
We are delighted to have been chosen as the winner of this award. We believe that investment in the blue economy is critical in addressing the planetary and societal risks posed by the current chronic underfunding that is evident in the blue economy. We are intentionally focused, and awareness and education are a key initial step, which this award helps us in achieving.
Articles
From Pollution to Solution – Are We There Yet?
The history of plastic is full of important inventions that have changed many parts of our lives. From everyday convenience to a danger to the planet, it is a material that continues to shape our world. In this article, we look at the threat of global plastic pollution, the impact it is having on marine life and the potential plan of action to tackle this issue.
Solving the water crisis requires a booming blue bond market
Emerging markets face an uphill battle against issues such as water scarcity, droughts, and polluted oceans. In this article, we examine how blue bonds could offer a sound investment instrument to help fund solutions.
Investing in the blue economy: An ocean of impact potential
The global economy and ecology depend on thriving oceans and clean water resources. Yet, the blue economy is faced with ever increasing challenges. In this article, we discuss the importance of the blue economy and why investment in this area is critical.
Unlocking the enormous impact potential of battling the water crisis
Many countries struggle with water pollution and deficient access to clean water. Governments and companies are working on solutions through innovation, renewable energy, and recycling. In this article, we look at how investors can unlock significant positive environmental and social change by providing much-needed capital.
Blue Bonds have emerged as a crucial tool in the sustainable investing toolkit that can support the blue economy and play a part in tackling the threats to the world's water resources.
PODCAST
The Blue Economy - Making Waves
In our inaugural season of The Angle from T. Rowe Price, we dive into the world of the blue economy. The economic contribution of the world's oceans and water resources is immense, including areas such as transportation, renewable energy, aquaculture, and utilities. At the same time, oceans and other water resources are under threat from climate change, pollution, overfishing, and habitat damage, among a host of other pressures. Can innovations in blue financing help create a more protected and sustainable water economy?
Listen and subscribe now wherever you get your podcasts.
Our ESG Approach
Our thinking on ESG
Impact Investing
1Source: https://www.oecd.org/ocean/topics/ocean-economy/
2Sources: BloombergNEF and Bloomberg L.P
Important Information
This webpage is for educational purposes only and for people interested in the development of the blue economy.
This webpage and material contained therein does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis for an investment decision. Prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. Past performance is not a reliable indicator of future performance. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested.
All investments are subject to market risk, including the possible loss of principal. Blue bonds carry investment risks, which include credit risk and interest rate risk. Emerging markets are less established than developed markets and therefore involve higher risks.
This webpage and material contained therein does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The webpage and material contained therein have not been reviewed by any regulatory authority in any jurisdiction.
Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date noted on the webpage and are subject to change without notice. Under no circumstances should the webpage, in whole or in part, be copied or redistributed without consent from T. Rowe Price.
The webpage and material contained therein are not intended for use by persons in jurisdictions which prohibit or restrict the distribution of the material.
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