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Unlocking Islamic Finance for Climate

 Unlocking Islamic Finance for Climate

Year Published

2023

Contributing Organisations

Global Ethical Finance Initiative (GEFI)
Islamic Finance Council (UKIFC)

Type of Resource

Research/Insights Report

Languages

English

Relevant Topics

Core Topic
Islamic Finance
Topic 2
Climate Finance Ecosystem
Topic 3
Debt

Target Audience

All

Relevant Geography

Global
 Unlocking Islamic Finance for Climate

Resource Summary

This insight series brings together a collection of articles that assess the current state of the sustainable Islamic finance landscape, identify opportunities and gaps in the market, and highlight efforts aimed at unlocking sustainable Islamic finance capital. This report reveals that, despite its ethical foundations and substantial market size, Islamic finance lags behind conventional finance in integrating Environmental, Social, and Governance (ESG) principles. It also underscores the sector's potential to mobilise significant capital in support of the UN Sustainable Development Goals (SDGs) and Net Zero targets. Finally, the report highlights initiatives such as the Global Islamic Finance SDG Taskforce and the High-Level Working Group on Green Sukuk, emphasising the importance of stakeholder collaboration to leverage Islamic finance for advancing global sustainability efforts.

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