Islamic climate finance — a sustainable solution

Article Type

Article

Description

Islamic finance aligns with sustainable development by promoting ethical investment principles. It uses tools like Sukuk, Musharakah, and Waqf to fund climate projects. Green Sukuk, introduced in countries like Malaysia and Saudi Arabia, supports renewable energy and sustainable infrastructure. Islamic finance also connects with Socially Responsible Investing (SRI), prioritizing environmental and social impacts. Despite challenges, the potential for growth in Islamic climate finance is significant. It can drive innovation and contribute to a low-carbon economy and a sustainable future.

Publication Source

DAWN

Publication Date

12-2-2024

Pages

02

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