ABOUT PLAN BLEU<\/b><\/p>\n
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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\u2019s sustainable future. Plan Bleu\u2019s 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\u2019s 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\u2019s taxonomy for sustainable activities.<\/span><\/p>\n <\/p>\n 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:<\/span><\/p>\n <\/p>\n 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\u2019s 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\u2014for instance through robust Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) frameworks\u2014blended finance offers a pragmatic pathway to bridge the persistent \u201csustainability investment gap\u201d in the Mediterranean.<\/span><\/p>\n <\/p>\n INTRODUCTION<\/b><\/p>\n <\/p>\n The scale and urgency of the Mediterranean\u2019s 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 \u201csustainability investment gap.\u201d Blended finance\u2014the strategic use of public and philanthropic funds to attract and de-risk private investment\u2014has 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.<\/span><\/p>\n <\/p>\n The private sector, with its vast pools of capital and capacity for innovation, is uniquely positioned to accelerate the region\u2019s 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.<\/span><\/p>\n <\/p>\n 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\u2014thereby enhancing transparency and investor confidence.<\/span><\/p>\n <\/p>\n 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\u2014while meeting their own fiduciary and reputational goals.<\/span><\/p>\n <\/p>\n 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\u2014especially in the diverse and complex Mediterranean context\u2014remain 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.<\/span><\/p>\n 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 \u201cgreen\u201d or \u201csustainable\u201d 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.<\/span><\/p>\n <\/p>\n 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.<\/span><\/p>\n <\/p>\n THEME OF THE CALL FOR PAPERS<\/b><\/p>\n <\/p>\n 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.<\/span><\/p>\n <\/p>\n The following<\/span> sub-themes<\/b> are indicative but not exhaustive. Papers are encouraged to address one or more of these areas, aligning with the Mediterranean\u2019s priorities and the evolving landscape of blended finance and sustainable investment.<\/span><\/p>\n <\/p>\n Authors may address how blended finance structures\u2014combining public, philanthropic, and private capital\u2014have 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?<\/span><\/p>\n Papers may explore risk mitigation tools\u2014such as guarantees, first-loss capital, and insurance mechanisms\u2014assessing 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.<\/span><\/p>\n 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\u2014including corporations, institutional investors, and financial intermediaries\u2014can mobilize finance, analyzing the scale and types of capital such as direct equity, green bonds, sustainability-linked loans, or impact funds.<\/span><\/p>\n 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.<\/span><\/p>\n Authors may examine how blended finance is applied across key sectors:<\/span><\/p>\n Authors may address how national and regional policies\u2014including legal frameworks, tax incentives, and public-private partnership models\u2014facilitate 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.<\/span><\/p>\n 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\u2014including 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.<\/span><\/p>\n 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?<\/span><\/p>\n Authors may explore gender-responsive and community-based approaches to project design and benefit sharing, examining mechanisms for stakeholder participation, transparency, and accountability.<\/span><\/p>\n 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?<\/span><\/p>\n 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\u2014such as biodiversity bonds or tokenized conservation credits\u2014can effectively mobilize private capital for ecosystem protection while ensuring measurable environmental results.<\/span><\/p>\n Whatever the subtheme of focus, <\/b>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\u2014such 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\u2019s 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\u2014one that maximizes benefits, addresses shortcomings, and sets a higher standard for responsible investment in the Mediterranean.<\/span><\/p>\n <\/p>\n ELIGIBILITY<\/b><\/p>\n <\/p>\n 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, T\u00fcrkiye. 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.<\/span><\/p>\n <\/p>\n SUBMISSION PROCESS<\/b><\/p>\n Interested researchers are invited to submit by <\/span>February 27th 2026<\/span>, the following 2 documents:<\/span><\/p>\n <\/p>\n <\/p>\n A <\/span>cover page (1 page)<\/b> with:<\/span><\/p>\n \u00a0– the objective of the paper<\/span><\/p>\n \u00a0– the knowledge gap and the value added of the paper\u00a0<\/span><\/p>\n \u00a0– methodology\/approach<\/span><\/p>\n \u00a0– expected results and regional policy implications<\/span><\/p>\n \u00a0– Name of the author(s)<\/span><\/p>\n \u00a0– Their Affiliation(s)<\/span><\/p>\n \u00a0– Contact details (including email)<\/span><\/p>\n \u00a0– Address, city and country<\/span><\/p>\n \u00a0– Which of the stated topics of the research they will be addressing<\/span><\/p>\n <\/p>\n The remaining pages of the concept note should include the following :<\/span><\/p>\n <\/p>\n <\/p>\n EVALUATION AND SELECTION\u00a0<\/b><\/p>\n <\/p>\n 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:\u00a0<\/span><\/p>\n <\/p>\n Other criteria<\/b>: 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.\u00a0\u00a0<\/span><\/p>\n <\/p>\n EXPECTED OUTPUTS FROM SELECTED PAPERS\u00a0<\/b><\/p>\n <\/p>\n <\/p>\n REMUNERATION\u00a0<\/b><\/p>\n <\/p>\n\n
Papers with different focuses are welcome, including:<\/b><\/h2>\n
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