Green Sukuk, Energy Poverty, and Climate Change: A Roadmap for Sub-Saharan Africa

Dalal Aassouli, Mehmet Asutay, Mahmoud Mohieldin and Tochukwu Chiara Nwokike

No 8680, Policy Research Working Paper Series from The World Bank

Abstract: The climate change challenge and the growth of the Islamic finance industry, together with the increase in socially responsible investing, could position green sukuk as a key instrument for financing clean energy and resilient infrastructure projects as well as shorter-term energy efficiency projects. Expansion of a green sukuk market could promote environment-friendly projects and improve livelihoods, helping Islamic finance achieve its moral objectives. A roadmap shows how policy makers could create a green sukuk market in Sub-Saharan Africa.

Date: 2018-12-18
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