SS Patrick Payet wins best sustainable finance solution award in London
July 01, 2019
“It’s a great honour to receive this Adam’s Smith Award especially as there were 244 nominations from 30 countries and Seychelles as a small island state was able to achieve such a success; statement made by Secretary of state for Finance, Trade, Investment and Economic Planning, Patrick Payet upon receiving the 2019 Best Sustainable Finance Solution Award at this year’s Treasury Today’s Adam Smith Awards in London.
SS Payet received the award in recognition of his efforts leading to the issuance of the world’s first sovereign ‘blue bonds’ last year, and establishing a framework for their issuance.
Best Sustainable Finance Solution is a new category for the 2019 Adam Smith Award that recognises the steps companies and organisations are taking to address the environmental, social and governance (ESG) issues when arranging finance.
SS Payet says that this represents a great honour both for him and for Seychelles. Recently in a short ceremony at State House, President Danny Faure congratulated him for his achievement and for honouring Seychelles on the international scene. SS Payet noted that the achievement for the award was due to hard work, devotion and dedication from staff of the Ministry of Finance, Trade, Investment and Economic Planning as well as from staff from the Blue Economy Department, other local and international stakeholders.
During his discussion with President faure, Mr Payet said that they discussed the structure and achievements of the blue bond over the past two years; the different countries that have requested Seychelles’ assistance and also how Seychelles can showcase the blue bond experience worldwide and in the process portraying us on the world map.
Through the innovative blue bond concept, Seychelles looks to address sustainability in the fishing sector. The blue bond concept is unique to Seychelles in the world at the moment.