Green Sukuk – A Viable Global Financing option for Climatic and Environmental Revolution ( A Practical Instrument for the Development of Sustainable Energy Projects in Pakistan)

Sarfaraz Nehal

doi:10.58575/ki.v3i1.36

Authors

Sarfaraz Nehal Sheikh Zayed Islamic Centre, University of Karachi

DOI:

https://doi.org/10.58575/ki.v3i1.36

Keywords:

Green Sukuk, SDG, United Nations, Clean Energy, Agenda 21

Abstract

In the year 2015, the UN General Assembly with a mission of more sustainable, and better life set the 17 goals for its member countries known as Sustainable Development Goals (SDGs) which are to be achieved by the year 2030. The SDGs are the continuation of “Agenda 21” and “Millennium Development Goals” of the United Nations. Shifting to more affordable & clean energy, and climate action are one of the major goals which were adopted to tackle the threat of climate change. In this paper the goals identified are generic and they have detailed plan of action which links achievement of one goal to that of the other. Proper measurement indicators have been identified with a proper timeline for each zone so that the target must be cross compared with ground actions.

Downloads

Download data is not yet available.

References

Aassouli, D., Asutay, M., Mohieldin, M., & Nwokike, T. C. (2018). Green Sukuk, Energy Poverty, and Climate Change: A Roadmap for Sub-Saharan Africa.

Alam, N., Fathi, M. D., & Ariss, R. T. (2016). Green Sukuk: An Innovation in Islamic Capital Markets. Springer.

Alam, S. S., Janor, H., Jano, Z., & Wel, C. (2012). Is Religiosity an important factor in influencing the intention to undertake Islamic home financing in Klang Valley? World Applied Sciences Journal.

Arya, R. (2014). Advancement of Non Edible Oil (Jatropha carcus) Seeds For Development of Surfactants and Their Utilization in Pest Control Management. Journal of Microbiology.

Dhakal, G. (2012). Potential of Jatropha (Jatropha carcus) as an alternative source of energy and a resource to improve smallholder livelihood (A study of Palpa District, Nepal).

Farooqi, A. B., Khan, A. H., & Mir, H. (2005). CLIMATE CHANGE PERSPECTIVE IN PAKISTAN. Pakistan Journal of Meteorology, Vol. 2: Issue 3.

KHALIL, S. (2014). CLIMATE CHANGE IMPACTS; DISASTERS AND CONFLICTS. Pakistan Journal of Applied Economics, 195-214.

Khan, S. R. (2001). Does Climate Change Matter in Pakistan? Sustainable Development Policy Institute.

Kiran, A., & Qurat-ul-Ain. (2017). CLIMATE CHANGE: IMPLICATIONS FOR PAKISTAN AND WAY FORWARD. ISSRA PAPERS.

Morea, D., & Poggi, L. A. (2017). An Innovative Model for the Sustainability of Investments in the Wind Energy Sector: The Use of Green Sukuk in an Italian Case Study. International Journal of Energy Economics and Policy, 53-60.

Mustafizur Rahman, M. R. (2013). Green Banking Prospects in Bangladesh. Asian Business Review, Volume 2.

Obaidullah, M. (2018). Managing Climate Change: Role of Islamic Finance. 31-62.

Pramanik, K. (2003). Properties and use of jatropha curcas oil and diesel fuel blends in compression ignition engine. 239-248.

Rambalak Yadav, G. S. (2013). ENVIRONMENTAL SUSTAINABILITY THROUGH GREEN BANKING: A STUDY ON PRIVATE AND PUBLIC SECTOR BANKS IN INDIA. Ontario International Development Agency.

Richardson, E. (2019). Responsible Finance Sukuk — Can They Bring Societal Value to a Value-Neutral Market? Capital Markets Law Journal 394.

Siswantoro, D. (2018). Performance of Indonesian green sukuk (islamic bond): a sovereign bond comparison analysis, climate change concerns? IOP Conference Series: Earth and Environmental Science.

Suleiman, H. (2016). Crowdfunding and the Opportunity Presented in the American Islamic. Journal of Islamic Economics, Banking and Finance (JIEFB), Vol. 12, No. 4, pp. 122-137.

Suryomurti, W. (2017). Constructing an Islamic Socially Responsible Investment (SRI) Index; The Case of Indonesia. Tazkia Islamic Finance and Business Review.

Talan, G., & Sharma, G. D. (2019). Doing Well by Doing Good: A Systematic Review Research. MDPI.

VIKAS, N., NAYAK, I., & GOEL, A. (2014). GREEN BANKING PRACTICES – A REVIEW. IMPACT: International Journal of Research in Business Management.

Abubakar, L., & Handayani, T. (2020, May). Green Sukuk: Sustainable Financing Instruments for Infrastructure Development in Indonesia. In 1st Borobudur International Symposium on Humanities, Economics and Social Sciences (BIS-HESS 2019) (pp. 983-987). Atlantis Press.