The Rise of Environmental Consciousness in Islamic Finance: Green Sukuk


Güçlü F.

Handbook of Energy and Environment Policy, AYDIN CELİL,DARICI BURAK, Editör, Peter Lang Publishing, Inc., Berlin, ss.245-259, 2019

  • Basım Tarihi: 2019
  • Yayınevi: Peter Lang Publishing, Inc.
  • Basıldığı Şehir: Berlin
  • Sayfa Sayıları: ss.245-259
  • Editörler: AYDIN CELİL,DARICI BURAK, Editör

Özet

The aim of the study is to explain the reasons behind the emergence of the green sukuk which is a security that is issued to finance environmental projects such as construction of renewable energy plants and to give brief information about the green sukuk. In order to achieve this aim, the study investigates into green investments and green bonds which inspired the green sukuk, the relationship between Islamic finance and social responsibility and green investments, and also the view of Islam on the environment. Besides, it looks into Islamic stock indices and sukuk which are Islamic capital market instrument. Finally, the development of green sukuk in the world and the challenges facing it are discussed. One of the outstanding issues of the study is that green sukuk has raised awareness of environmental issues among Islamic finance investors and attracted conventional investors who have environmental awareness to Islamic finance instruments. However, the fact that there is no consensus on the green sukuk standards seems to be a problem with the development of green sukuk. Consequently, green sukuk standards sets and legislative regulations on green sukuk should be created by cooperation between governments and international organizations.