NewsNation Hit, Blue Bonds, & 'The Heartbreak Kid' Out Now
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Good afternoon,
For you newbies out there, welcome to Outsider on the Inside. I hope this dispatch from in and around the nation’s capital on underreported topics finds you well.
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NewsNation Hit: Bidenomics
I returned to NewsNation’s “Morning in America” program to debate Bidenomics and why President Biden’s tax-and-spend policies are harming, not helping, most Americans.
View a teaser of my segment below:
Watch the full clip below:
Beware Blue Bonds
Blue bonds are debt instruments issued by governments, banks, or corporations designed to support investments in ocean conservation and blue economies. ESG proponents are embracing them “to fulfill their corporate social responsibilities” to “generate benefit for the ocean and humankind.”
Renewable energy companies like Orsted, naturally, are jumping on them. Orsted recently unveiled blue bond investment commitments to fulfill its ESG goals.
The Danish-based company is the first private actor to issue them. The five-year blue bond will be valued at $100 million Euros at a 3.6325% fixed-rate maturing in 2028.
“Blue bonds assist in diversifying and expanding the market for sustainable ocean financing, which is crucial for enhancing ocean health,” the company said.
In 2018, the Republic of Seychelles—with World Bank backing—first launched sovereign blue bonds. This particular bond has “a ceiling value of US$15 million, with a maturity of 10 years.”
Unlike conventional bonds—loans made by investors to borrowers—blue bonds are financial instruments aimed at supporting ocean sustainability and are considered a “subset” of green bonds.
Blue bonds are very similar to green bonds—which are issued on the “promise to use the funds raised for specific green, climate and sustainable purposes.” But like green bonds, investing in blue bonds could lead to financial instability. I noted the Ghana case study on IWF’s blog last summer:
The Ghanaian government was the first in the continent to raise $5 billion from international capital through Green, Social and Sustainability (GSS) Bonds. GSS bonds fund projects with supposed environmental and social outcomes. In May 2022, the World Bank called GSS bonds a “new frontier for Africa that will help the continent build a deeper, resilient, and sustainable financing, according to policymakers, regulators, and peer sovereign issuers from across West Africa.”
But instead of the promised “new frontier,” Ghana experienced high consumer inflation and higher cost of living which prompted protests in the capital, Accra. Earlier this year, Moody’s warned global sustainable bond issuance would be “flat” in response to Russia’s invasion of Ukraine—which is down 28% from Q1 2021. The Ghanaian government didn’t do itself any favors after imposing a tax on electronic payments at the same time. Now the nation, on the brink of economic collapse, is in talks with the International Monetary Fund (IMF) for a bailout.
What would blue bonds be directed towards? Supporters claim investments will boost ocean biodiversity and related sustainability goals. One “innovative marine protected area finance mechanism” that’s being lauded by the International Union for Conservation of Nature (IUCN) is Marine Protected Areas (MPAs). But MPAs aren’t new and they’re hardly solutions either.
California has experimented with these protected marine areas at the expense of its sportfishing industry. The American Sportfishing Association (ASA) warned MPAs act as marine reserves or no-take zones that convert popular fishing waters into no-go zones permanently closed off to recreational fishing access. If people are displaced from access here in America, fishing and its related industries will suffer economically. In turn, it’ll undermine conservation funding generated by fishing licenses, tackle, boats, and motor fuel expenditures.
Detangle from “The Heartbreak Kid”
Singer-Songwriter Madison Hughes Debuts New Country Single ‘The Heartbreak Kid’
Nashville, Tenn. – Singer-songwriter Madison Hughes, Season 22 contestant on NBC’s The Voice, has released a new single called “The Heartbreak Kid.” The song debuted today and is available on Apple Music, Spotify, YouTube, and other platforms.
“I’m excited to release the “The Heartbreak Kid” today. I truly believe it’s my best work yet,” said Madison Hughes. “When I first saw the lyrics, they directly resonated with me. To me, it’s a commentary on dating woes and falling for heartbreakers who charm then leave you. Though I allude to past famous heartbreakers, they still exist and break hearts today. The intention is to be playful but also truthful. I’m confident this single will resonate with others, as well.”
The song was written by her frequent co-writer Rich Deans. “The Heartbreak Kid” is a follow-up song to Hughes’ previous country single “You or the Whiskey” - which was dubbed "7 Must Hear Country Songs" by Billboard Magazine, featured on Fox News’ The Five Show, and Spotify’s New Friday Country Music playlist. The song went viral on TikTok receiving 500,000 plays and now “The Heartbreak Kid” is surpassing that number.
Madison Hughes is originally from Ponte Vedra Beach, Florida. She began her musician journey at a young age. In Fall 2022, she competed on NBC’s The Voice on Team Blake and got three chair turns for her rendition of Bob Dylan’s “Knockin on Heaven’s Door.” She's since released three independent singles and is currently working on projects with producers Justin Weaver and Lera Lynn/Todd Lombardo. Learn more at www.MadisonHughes.com
ICYMI
Articles/commentary/media appearances from the past week.
MEDIA MENTIONS
On Monday, I returned to WMAL News to discuss lab-grown chicken and former Washington Commanders QB Carson Wentz taking flak for posting a black bear harvest.
And earlier this morning, I joined NewsNation to discuss Bidenomics and why Biden’s economic policies are harming most income earners.
ARTICLES/BLOGS
Townhall: Yes, Traditional Meat Will Endure and Outlast Alternatives
IWF: ESG Blue Bonds Could Imperil Legit Ocean Conservation Efforts
Podcasts You May Have Missed
Catch up on District of Conservation episodes below.
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—Gabriella