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Blue bonds

Our blue bond is enabling resilient renewable energy projects that contribute to a sustainable ocean economy

In June 2023, we became the first energy company in the world to issue a blue bond –    a five-year EUR 100 million private placement. Net proceeds from the bond are directed towards projects that contribute to the development and scaling of ocean-based renewable energy solutions, while supporting ocean health and marine biodiversity. Specifically, the bond finances activities aligned with the International Finance Corporation (IFC) Blue Finance Guidelines, focusing on marine ecosystem restoration and sustainable shipping – two activities central to the blue economy.

What happened in 2024?


In 2024, we took further steps towards our ambition of delivering a net-positive impact from all new renewable energy projects commissioned from 2030 onwards. This means going beyond minimising harm to actively enhancing ecosystems and wildlife habitats connected to our projects.

We are also proud to serve as a Champion of the Ocean Investment Protocol (OIP), developed by the UN Global Compact and UNEP FI. This role reflects our commitment to advancing measurable, science-based action and responsible investment in the sustainable ocean economy.

Through the issuance of our blue bond and the publication of an annual Blue Bond Impact Report, we aim to contribute to addressing the global ‘blue finance gap’ – directing capital towards offshore biodiversity initiatives that support nature, society, and climate. We also hope to promote blue bonds as a meaningful financial instrument that can help drive broader ocean stewardship across the private sector.

As the bond is a private placement, the full impact report, including detailed information on allocation of net proceeds, is available solely to our blue bond investors. However, this year we have published summarised blue bond impacts, which you can access here: 

Summarised blue bond impacts 2024

Blue bonds impacts 2024 cover image

Explore some of our biodiversity projects and partnerships

Boosting biodiversity on land

We support biodiversity initiatives in environments where we build and operate onshore renewable energy projects.

Restoring biogenic reefs in the North Sea

In partnership with WWF and DTU Aqua, we’re creating new habitats, increasing biodiversity, and improving water quality
Fish in the ocean

Partnering with WWF for ocean biodiversity

Together with WWF, we’re exploring ways to protect and restore biodiversity in offshore wind development

Group seagrass planting

Wilder Humber: Restoring Coastal Ecosystems

We’re partnering with Yorkshire and Lincolnshire Wildlife Trusts on a seascape restoration project in the Humber Estuary, one of the UK’s most important conservation sites.