14 May 2018 - 15 May 2018
IOSCO Asia Pacific Hub – World Bank Group – Securities Commission Malaysia Conference on Harnessing Islamic Finance for a Green Future
The IOSCO Asia Pacific Hub together with the World Bank Group and the Securities Commission Malaysia organised a Conference on Harnessing Islamic Finance for a Green Future from 14-15 May 2018 in Kuala Lumpur, Malaysia.
In recent years, climate change has risen to the top of the development agenda, with 195 countries signing the Paris Agreement to fight climate change. Given the scale of the financial resources required to support climate mitigation and adaptation initiatives, coupled with the strain on government budgets, the mobilisation of financing through innovative instruments is imperative. Hence, the use of Islamic finance to support Green investments has been receiving increased attention, with the recent issuances of the first set of Green Sukuk to finance climate friendly projects.
The Conference explored the use of Islamic finance to support climate mitigation efforts, including the use of Islamic finance instruments to finance climate friendly projects. It also explored policy, regulatory and institutional elements required for the sustainable use of Islamic finance to address climate change. There was a particular focus on the recent use of Green Sukuk to finance projects in the region and the potential replication of these instruments in other markets.
For details of the Conference, please refer to the programme.