tenders

ABOUT PLAN BLEU

 

In 1976, the Mediterranean-rim countries and the European Community adopted the Barcelona Convention to protect the marine environment and its coastal areas. Recognizing the necessity for collective action to address development and environmental challenges, the signatory countries have made sustainability a central pillar of regional cooperation. Plan Bleu, established by France in 1977, is one of the Regional Activity Centres of the Mediterranean Action Plan (MAP) under the United Nations Environment Programme (UNEP). Its biennial work program is approved by the Contracting Parties to the Barcelona Convention, reflecting shared priorities for the region’s sustainable future. Plan Bleu’s core mission is to produce forward-looking studies, scenarios, and policy recommendations to raise awareness among Mediterranean stakeholders and decision-makers about key environment and sustainable development issues. Through its research and convening power, Plan Bleu supports the region’s transition to sustainability, aligning its efforts with global frameworks such as the Sustainable Development Goals (SDGs), the Mediterranean Strategy for Sustainable Development (MSSD), OECD guidelines, and the European Union’s taxonomy for sustainable activities.

 

In recent years, Plan Bleu has launched a series of Calls for Papers to stimulate rigorous analysis and innovative policy thinking on the most pressing sustainability issues facing the Mediterranean:

• The 2023 Call for Papers focused on the critical topic of Harmful Subsidies. It explored the environmental and socio-economic impacts of subsidies that contribute to resource depletion and pollution, and examined pathways for reforming these fiscal instruments to support sustainability objectives across the region.
• The 2024 Call for Papers addressed Environmentally Friendly Economic Tools and Green Public Finances. The Call highlighted the urgent need for new instruments and the adaptation of traditional public finance principles to the Mediterranean’s unique challenges, such as climate vulnerability, water scarcity, and biodiversity loss.

 

Building on the insights and momentum generated by these previous Calls, Plan Bleu now turns to the transformative potential of blended finance. This new Call seeks to deepen the region’s understanding of how public resources can be strategically combined with private investment to drive sustainability at scale. By mobilizing new forms of capital and aligning private sector incentives with public policy goals—for instance through robust Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) frameworks—blended finance offers a pragmatic pathway to bridge the persistent “sustainability investment gap” in the Mediterranean.

 

INTRODUCTION

 

The scale and urgency of the Mediterranean’s environmental challenges demand a step change in the mobilization of financial resources. While public funding remains indispensable, it is increasingly clear that unlocking private capital is essential to bridge the persistent “sustainability investment gap.” Blended finance—the strategic use of public and philanthropic funds to attract and de-risk private investment—has emerged as a powerful approach to catalyze sustainable development, particularly in regions where traditional financing models have struggled to deliver the scale, speed, and innovation required.

 

The private sector, with its vast pools of capital and capacity for innovation, is uniquely positioned to accelerate the region’s transition to sustainability. Corporations, institutional investors, and financial intermediaries can mobilize a wide array of financial resources for development: from direct equity and debt investments in renewable energy, water infrastructure, and climate adaptation projects, to participation in green bonds, sustainability-linked loans, and impact investment funds. Venture capital and private equity can support early-stage clean technology and circular economy ventures, while insurance companies and pension funds can provide long-term financing for resilient infrastructure and ecosystem restoration.

 

Banks, in particular, play a pivotal role as both financiers and facilitators of sustainable investment. They can design and underwrite blended finance vehicles that combine concessional and commercial capital, offer green lending products, and act as intermediaries for green bonds and sustainability-linked loans. By integrating Environmental, Social, and Governance (ESG) criteria into their lending and investment policies, banks can steer capital toward projects that deliver measurable environmental and social benefits. Furthermore, banks can support capacity-building for clients, develop innovative risk-sharing mechanisms, and help standardize impact measurement and reporting—thereby enhancing transparency and investor confidence.

 

Blended finance is not merely a mechanism for resource mobilization; it is a framework for aligning private sector incentives with public sustainability objectives. When structured within robust Corporate Social Responsibility (CSR) and ESG frameworks, blended finance can maximize both environmental impact and financial returns. It offers a pathway for private actors to contribute to climate action, biodiversity protection, circular economy, and social inclusion—while meeting their own fiduciary and reputational goals.

 

Institutions such as the OECD, the European Union, and the Sustainable Finance Working Group have underscored the massive potential of blended finance to accelerate progress toward the SDGs and the Paris Agreement. Yet, practical pathways for aligning private investments with national and regional sustainability priorities—especially in the diverse and complex Mediterranean context—remain underexplored. There is a pressing need for innovative models, rigorous analysis, and actionable policy recommendations that can unlock the full potential of blended finance for a greener, more resilient Mediterranean future.

However, the increasing involvement of private finance in sustainable development also raises important concerns. There is a growing risk of greenwashing, where investments are labeled as “green” or “sustainable” without delivering genuine environmental benefits or transparency. Additionally, blended finance mechanisms may sometimes disproportionately benefit specific projects or sectors that are already attractive to private investors, rather than channeling resources to the areas of greatest environmental or social need. There is also the challenge of ensuring that blended finance initiatives are inclusive, equitable, and aligned with the long-term interests of Mediterranean communities.

 

As such, this Call for Papers encourages critical reflection on both the opportunities and limitations of blended finance. Authors are invited to examine not only how private capital can be mobilized for sustainable development, but also how governance, regulatory frameworks, and impact measurement can be strengthened to ensure credibility, additionality, and broad societal benefit.

 

THEME OF THE CALL FOR PAPERS

 

This Call seeks to explore the strategic alignment of private investments with public sector sustainability objectives, leveraging blended finance approaches that maximize both environmental impact and financial returns within a CSR and ESG framework. Submissions should present evidence-based analysis, innovative models, and pragmatic policy recommendations tailored to the Mediterranean context.

Papers with different focuses are welcome, including:

• Regional (Multi-Country) Analyses: Explore how blended finance policies and initiatives are (or may be) coordinated or harmonized across multiple Mediterranean countries. Examine the challenges and opportunities of aligning diverse national frameworks, and the role of regional organizations or agreements in facilitating cross-border investment and resource sharing for sustainability.
• Comparative Perspectives: Analyze how different countries or sub-regions approach blended finance for sustainability. Identify best practices, lessons learned, and success stories that can be adapted or scaled across the Mediterranean.
• Country-Specific or Local Case Studies: Examine the local context, including socio-economic, political, and environmental factors shaping the design and implementation of blended finance initiatives. Highlight successful interventions and the key factors contributing to their effectiveness and scalability.

 

The following sub-themes are indicative but not exhaustive. Papers are encouraged to address one or more of these areas, aligning with the Mediterranean’s priorities and the evolving landscape of blended finance and sustainable investment.

 

1. Blended Finance Models and Mechanisms

Authors may address how blended finance structures—combining public, philanthropic, and private capital—have been designed and implemented for environmental projects, examining both successes and limitations. What safeguards ensure that blended finance supports genuinely additional and impactful projects, rather than subsidizing investments that would have happened anyway? How can mechanisms avoid “cherry-picking” commercially attractive projects while leaving critical but less profitable sectors underfunded?

Papers may explore risk mitigation tools—such as guarantees, first-loss capital, and insurance mechanisms—assessing their effectiveness in unlocking private investment. Authors should consider whether these tools are used transparently and create incentives for responsible investment, or if they inadvertently encourage risk-shifting or moral hazard. Research can also investigate project aggregation, securitization, and scaling of small- and medium-sized green investments, while considering whether smaller or community-based projects might be overlooked in favor of larger, more bankable ventures.

2. Private Sector Engagement and CSR/ESG Integration

Authors may address strategies for embedding Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) criteria into blended finance projects. Papers should critically examine how the private sector—including corporations, institutional investors, and financial intermediaries—can mobilize finance, analyzing the scale and types of capital such as direct equity, green bonds, sustainability-linked loans, or impact funds.

Authors should address greenwashing concerns, where investments are labeled “green” or “sustainable” without delivering genuine environmental benefits. How can blended finance initiatives ensure transparency and accountability in ESG reporting? What governance mechanisms or third-party certifications effectively prevent greenwashing and ensure real-world impact? Papers may also explore incentive structures like impact-linked returns or performance-based payments, assessing whether these truly align investor interests with sustainability outcomes.

3. Sectoral Applications of Blended Finance

Authors may examine how blended finance is applied across key sectors:

• Biodiversity and Ecosystem Restoration: Papers could explore investments in marine ecosystem conservation—including Posidonia oceanica seagrass meadows—coastal wetland restoration, and marine protected areas. Research should assess financial instruments such as blue bonds, payment for ecosystem services (PES) schemes, biodiversity offset credits, and conservation trust funds. Authors should examine the role of public guarantees and first-loss capital in de-risking nature-based investments, challenges of long investment horizons and uncertain revenue streams, and difficulties in establishing standardized biodiversity metrics. Additional considerations may include exploring viable business models for seagrass restoration, detailing the chosen vehicle, governance framework, and stakeholder collaboration (public and private), as well as the selected financial instrument or payment mechanism and the expected revenue streams. Research could provide an overview of the landscape of public and private funding sources, including EU programmes, Multilateral Development Banks (e.g., EIB, World Bank), national development banks, philanthropic organisations, and private actors such as companies, SMEs, and individuals.
• Climate Finance: Mitigation and Adaptation: Authors could analyze how blended finance supports renewable energy, energy efficiency, low-carbon infrastructure, resilient agriculture, water management, and coastal protection. Papers should examine the effectiveness of green bonds, sustainability-linked loans, tax equity structures, feed-in tariffs, climate risk insurance, catastrophe bonds, and parametric insurance in attracting private investment. Research should assess development banks’ role in providing concessional loans or credit guarantees to reduce technology and market risks, particularly for emerging technologies like green hydrogen or offshore wind. Authors may explore challenges such as grid integration costs, policy uncertainty, currency risks, diffuse beneficiaries, and difficulties in demonstrating financial returns. Papers should consider why adaptation projects struggle to attract private capital compared to mitigation investments, and how public sector anchor investments, sovereign guarantees, or output-based aid can catalyze private participation. Research may draw on successful initiatives like Morocco’s renewable energy program while assessing whether investments reach communities most in need or concentrate in already profitable markets, and whether finance is equitably distributed across vulnerable regions.
• Circular Economy and Trade: Papers could assess how blended finance supports recycling, eco-design, and sustainable production through circular economy bonds, extended producer responsibility (EPR) financing, and performance-based incentives. Authors may explore how venture capital and corporate partnerships can scale circular business models, while addressing challenges like high infrastructure costs and regulatory fragmentation. Research should examine support for sustainable trade infrastructure—decarbonized ports, green logistics, clean maritime corridors—and compliance with EU Green Deal standards through instruments like green shipping loans, port infrastructure bonds, and export credit guarantees.
• Pollution Prevention and Control: Research may focus on investments in pollution control, examining environmental performance bonds, polluter-pays mechanisms, and municipal green bonds for wastewater treatment, air quality improvements, and plastic pollution reduction. Authors should assess how public credit enhancements overcome barriers such as low tariff revenues and weak regulatory enforcement, and whether blended finance targets pressing pollution sources—such as industrial effluents, agricultural runoff, or marine plastic waste—or merely “greens” marginal improvements.

4. Policy, Regulatory, and Institutional Enablers

Authors may address how national and regional policies—including legal frameworks, tax incentives, and public-private partnership models—facilitate or hinder blended finance. Papers should consider the role of development finance institutions and multilateral banks in catalyzing private investment and supporting systemic change. Research may for instance examine how regulatory frameworks either support or constrain the scaling of green bonds, biodiversity credits, or other blended finance instruments, and whether policy environments adequately recognize and incentivize nature-based solutions and ecosystem restoration projects.

Authors should address risks of regulatory arbitrage or misaligned incentives. How can policy frameworks ensure blended finance delivers additionality, avoids crowding out public investment, and supports genuine sustainability impact across all sectors—including biodiversity conservation, which often lacks clear revenue models? Papers may explore how harmonization of green finance standards, biodiversity accounting frameworks, and cross-border cooperation can prevent “race to the bottom” practices and ensure consistent application of environmental and social criteria across the region.

5. Social Inclusion, Equity, and Community Engagement

Authors may address how blended finance initiatives can be structured to meet social and inclusiveness needs, particularly in the South and East Mediterranean. Papers should consider the risk that blended finance may prioritize commercially attractive projects over those delivering the greatest social or environmental benefit for marginalized groups. How can project selection and governance ensure inclusive development and community empowerment?

Authors may explore gender-responsive and community-based approaches to project design and benefit sharing, examining mechanisms for stakeholder participation, transparency, and accountability.

6. Innovative Financial Instruments and Digital Solutions

Authors may address the use of green bonds, sustainability-linked loans, impact investment funds, and other emerging instruments. Papers should consider risks such as greenwashing or complex structures difficult to monitor and regulate. How can digital and fintech solutions enhance transparency, efficiency, and scalability while ensuring robust oversight?

Authors may investigate blockchain, data analytics, and digital platforms for impact measurement and investor engagement, assessing whether these technologies genuinely improve outcomes. For example, research could explore how digital tools can facilitate biodiversity impact tracking, enable transparent monitoring of ecosystem restoration progress, support the development of credible biodiversity credit markets, and improve verification of nature-based solution outcomes. Papers may examine whether innovative financial instruments—such as biodiversity bonds or tokenized conservation credits—can effectively mobilize private capital for ecosystem protection while ensuring measurable environmental results.

Whatever the subtheme of focus, we invite authors to move beyond theoretical discussions and provide a realistic, evidence-based roadmap for how blended finance can genuinely support a greener, more inclusive Mediterranean. We seek contributions that not only showcase innovative models and the potential of private sector and banking finance for sustainable development, but also rigorously examine the risks—such as greenwashing, misaligned priorities, or the exclusion of vulnerable groups. Our goal is to build a comprehensive understanding of what works, what does not, and why, so that policymakers, practitioners, and financial institutions can design and implement blended finance solutions that are transparent, impactful, and truly aligned with the region’s environmental and social needs. By the end of this process, we aim to have a clearer, actionable vision for harnessing blended finance as a force for sustainability—one that maximizes benefits, addresses shortcomings, and sets a higher standard for responsible investment in the Mediterranean.

 

ELIGIBILITY

 

The Call for Papers is open to all experts and researchers working on relevant topics in Mediterranean countries that are Contracting Parties to the Mediterranean Action Plan of the United Nations Environment Programme (UNEP/MAP). This includes : Albania, Algeria, Bosnia and Herzegovina, Croatia, Cyprus, Egypt, France, Greece, Israel, Italy, Lebanon, Libya, Malta, Monaco, Montenegro, Morocco, Slovenia, Spain, Syrian Arab Republic, Tunisia, Türkiye. If pre-selected, candidates must demonstrate their legal capacity to sign contracts and issue invoices according to the legislation of their country. Researchers from the Southern Mediterranean, including women and PhD graduates, are encouraged to participate.

 

SUBMISSION PROCESS

Interested researchers are invited to submit by February 27th 2026, the following 2 documents:

 

1. A detailed concept note for the research paper (5 to 7 pages) including:

 

A cover page (1 page) with:

1. The summary of the paper stating:

 – the objective of the paper

 – the knowledge gap and the value added of the paper 

 – methodology/approach

 – expected results and regional policy implications

1. Presentation of the author(s) and the topic of the research as follows:

 – Name of the author(s)

 – Their Affiliation(s)

 – Contact details (including email)

 – Address, city and country

 – Which of the stated topics of the research they will be addressing

 

The remaining pages of the concept note should include the following :

1. Statement of research stating the problem addressed, brief review of the literature, the knowledge gaps the paper will address and a preliminary outline.
2. Research methodology stating the research question, the hypothesis to be tested, the methodology (e.g case studies, empirical evidence, etc.) and the rationale for using the selected methodology.
3. Expected results and policy implications : how will the outputs and results of the research translate into policy recommendations. Recommendations must be linked to the analysis, be specific and operational.

 

2. The CVs of the author(s) including list of publications

 

EVALUATION AND SELECTION 

 

A minimum of 7 proposals will be selected by Plan Bleu. Proposals will be evaluated by Plan Bleu and selected based on objective criteria including: 

• a concise and structured presentation of the research objectives and of the Paper,
• the relevance and originality of the topic and its policy relevance and,
• the inclusion of an indicative list of references.

 

Other criteria: Final selection may be subject to adjustments to take into account regional, subjects and gender balances. Previously published papers or those already accepted for publication will not be accepted. All submitted drafts will go through a plagiarism-checking process. No single author may submit more than two papers, whether independently or jointly with others. Draft papers should be submitted in English. Submissions that are not consistent with the above guidelines will be excluded.  

 

EXPECTED OUTPUTS FROM SELECTED PAPERS 

 

• Author(s) of the selected concept notes will be asked to submit a first draft (about 15 pages) of the research paper by May 20th 2026 ahead of the Plan Bleu Conference.
• Selected authors will be invited to present their Papers to the Plan Bleu Conference on “Blended Finance for a Greener Future”, taking place in mid 2026 (Menorca, Balearic Islands (tbc)). Authors will get feedback and inputs from other experts and researchers, to be used to finalize the Paper. Papers will be adjusted in light of the debates held at the Conference and/or consolidated based on the feedback received. 
• Following the Plan Bleu Conference, authors will be expected to submit a revised and final version of their Paper which incorporates the feedback received. The final draft shall be submitted by September 11th 2026. The final version of the paper will be peer-reviewed and if successful, will be published in the Plan Bleu research papers series and Edited Volume. 

 

REMUNERATION 

 

• Each Paper will be awarded with €2,000 gross. A first payment (50%) will be provided on receipt of the first draft of the paper (the exact payment date will depend on the timing of UNEP/MAP fund disbursement). A second (final) payment (50%) will be provided after the final draft is submitted, provided that the peer review is positive and that the Paper meets the established quality standards. 

• Flights and accommodation to the Plan Bleu conference will be covered for selected authors (one author per paper). Coverage of the travel expenses is restricted to the geographic area covered by Plan Bleu (21 Mediterranean Countries of Barcelona Convention).

 

SUMMARY AND TIMELINE FOR THE CALL FOR PAPERS

 

• February 27th 2026 : Deadline for Submission of Draft Concept Notes
• Early March 2026 : Review and Selection Process 
• March 2026 : Announcement of selected Concept Notes, Contractualisation and launching work on the papers
• March/April 2026 : Travel arrangements for authors of selected paper (one author per paper) –  Including visas (when applicable)
• May 20th 2026 : Submission of first draft of selected papers (15 pages)
• June 2026: Presentation at the Plan Bleu conference
• September 11th 2026 : Submission of the final version of papers (maximum 25 pages)
• October/November 2026 : Completion of the peer-review process 
• end 2026/early 2027 : Publication in Plan Bleu Edited Volume

 

CONTACT DETAILS

For any inquiries related to this call, please contact Constantin Tsakas, Chief Economist of Plan Bleu, [email protected] with the subject line: Plan Bleu Call for Papers.