Islamic Green Finance: Towards Ethical and Environmentally Responsible Investing

Green Islamic finance is a growing field that combines Islamic investment principles with environmental responsibility. This book explores the potential of this concept to address climate change and promote sustainable development.It examines various aspects of green Islamic finance, including Shari'ah-compliant financial instruments for renewable energy projects, green businesses, and environmental risk mitigation. It also explores the role of Islamic financial institutions and government policies in influencing green initiatives. Additionally, the book discusses the positive impact green Islamic finance can have on social development and assesses the role of technology in facilitating green transactions, discussing emerging trends in blockchain, crowdfunding, and artificial intelligence. The book emphasizes the need for robust impact measurement frameworks and sustainability reporting standards for green Islamic finance projects, evaluating existing frameworks and methodologies, and identifying best practices for measuring and reporting the environmental and social impact of green finance initiatives. It analyses successful case studies and identifies key challenges and opportunities for government policies to foster the growth of green Islamic finance. It also highlights key areas for further research and examines the potential of green Islamic finance to contribute to achieving the Sustainable Development Goals (SDGs). Further, it showcases real-world examples of successful green Islamic finance initiatives from diverse regions. These case studies provide valuable insights into practical implementation and scalability.The book raises awareness of green Islamic finance, stimulates innovation in this area, informs policymaking, and empowers investors to make ethical and sustainable investment decisions, and as such, targets a wide audience including academics, researchers, financial professionals, policymakers, and individual investors.

About the Author

Edib Smolo is an Associate Professor and former Chair of the Finance Department and Director of the Master of Science in Finance program at Effat University, Jeddah, Saudi Arabia.

Mohammed Omer Rafique is an Assistant Professor of Islamic Finance and Management Sciences at SZABIST University.