Seychelles blue bond: Indebting ecological restructuring of fisheries.

Seychelles' issuance of the world's first blue bond in 2018 represents a novel approach to financing sustainable blue economy activities. Consisting of socio-legal methodologies, this paper examines the implications of this financial innovation, particularly for the local fisheries sector, and explores how it shapes the implementation of international environmental law in Seychelles. The paper reveals that the ecological modernization trajectory based on the discourse that sees sustainable transition as a profitable opportunity prioritizes commercial interests over the needs of local communities and alternative fisheries proposals. However, the paper claims that such a strategy should be read in the context of low climate financing for adaptation to small island states that are pushed to come up with their climate financing solutions at the expense of becoming indebted. [ABSTRACT FROM AUTHOR]