Climate footprints of GCC's economic sectors and the role of Islamic finance in building a sustainable future

Imene Tabet

Chapter 9 in Islamic Finance and the Pursuit of Sustainable Prosperity, 2025, pp 180-196 from Edward Elgar Publishing

Abstract: Amidst the global drive toward environmental sustainability, the integration of green practices into financial frameworks has emerged as a pivotal driver of financed risk management. This study explores the interplay between Islamic finance and sustainability in the Gulf Cooperation Council (GCC) region. It analyses climatic footprints across GCC economic sectors and examines the role of Islamic finance in building a sustainable future. The research reveals distinct emission patterns within the region, with high emissions in sectors like mining, quarrying, manufacturing, and construction. Islamic banks exhibit unique emission intensities in certain sectors, emphasizing the need for tailored strategies. The chapter investigates the regulatory framework and green finance initiatives, highlighting how Islamic finance institutions can steer towards sustainable development. It contributes actionable recommendations to advance sustainable finance practices and underscores the pivotal role of Islamic finance in shaping a resilient and equitable future.

Keywords: Sustainability; Climate finance; Islamic finance; Financed emissions; Sectoral climate risks; Gulf Cooperation Council; GCC; Direct emissions; Indirect emissions (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035349678
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