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

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

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.

Suggested Citation

  • Aassouli,Dalal & Asutay,Mehmet & Mohieldin,Mahmoud & Nwokike,Tochukwu Chiara, 2018. "Green Sukuk, Energy Poverty, and Climate Change : A Roadmap for Sub-Saharan Africa," Policy Research Working Paper Series 8680, The World Bank.
    • Handle: RePEc:wbk:wbrwps:8680
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    Cited by:

    1. Arya Sasongko & Ali Sakti, 2020. "Sovereign Green Sukuk: Environmental Risk Model Development," Working Papers WP/02/2020, Bank Indonesia.
    2. Munir Khamis & Dalal Aassouli, 2023. "The Eligibility of Green Bonds as Safe Haven Assets: A Systematic Review," Sustainability, MDPI, vol. 15(8), pages 1-27, April.

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