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Unlocking Islamic Finance for Climate

Unlocking Islamic Finance for Climate

Year Published

2023

Contributing Organizations

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 Description

This insight series examines the state of sustainable Islamic finance, identifying market gaps, opportunities, and efforts to unlock ESG-aligned capital. It highlights the sector’s potential to support SDGs and Net Zero targets, while spotlighting collaborative initiatives such as the Global Islamic Finance SDG Taskforce and the Green Sukuk Working Group.

Why This Matters

Mobilizing Islamic finance is vital for climate progress in many emerging markets. Aligning it with climate objectives can unlock significant new capital for a just and inclusive transition.

Key Insights

  • Islamic finance’s principles—such as risk sharing, ethical investment, and asset-backing—are naturally aligned with climate goals
  • Highlights instruments like green sukuk, waqf, and blended finance models for scaling climate investment
  • Calls for stronger policy support, product innovation, and data systems to bridge gaps in climate-aligned Islamic finance
  • Emphasizes collaboration across jurisdictions and stakeholders to drive impact

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