December 31, 2023 — Rare, an international nonprofit based in Arlington, Virginia, U.S.A., has created what it calls a first-of-its-kind small-scale fisheries (SSF) Impact Bond to finance community-led co-management of small-scale fisheries.
Rare announced the bond at the COP28 meetings in the United Arab Emirates, and is targeting early 2024 for the launch of the program. Its plan for the SSF Impact Bond program is to scale up through three rounds, with a goal of mobilizing up to USD 160 million (EUR 146 million) to support the protection, restoration, and sustainable management of coastal ecosystems. Rare said along with the ecological and community benefits, the model is aimed at de-risking future investment in communities and small-scale fisheries