IslamicFinance.de

The Islamic Development Bank (ISDB) and the London Stock Exchange Plc (LSE) have both pledged to partner to boost Green Sukuk globally. President of the ISDB, Dr. Bandar Hajjar, met with the CEO of the LSE Plc, Nikhil Rathi, to discuss ways of broadening their collaboration. Green Sukuk has recently emerged as a unique example of a Sharia-compliant impact investing instrument with strong growth prospects. According to the Climate Bonds Initiative, a total of $117.8 billion in green bonds and Sukuk were issued in the first half of 2019, up 48% year-on-year. The Climate Bonds Initiative has also identified the following eligible assets for green Sukuk: solar parks, biogas plants, wind energy projects, renewable transmission and infrastructure projects, and electric vehicles. Equally, they can be used to subsidize a government's green payments.