Islamic Finance

Green and Sustainability Sukuk Update 2023: Financing a Sustainable Future

COP28 has become an inflection point, spurring a rebound in green sukuk issuance. Find out how this market is developing to achieve its potential.

Despite the macroeconomic headwinds in 2022, green and sustainability sukuk issuance had another record year in 2022, reaching $9.4 billion as sustainability sukuk maintained their strong growth momentum in the aftermath of the Covid-19 pandemic. Green and sustainability sukuk issuances have set yet another in 2023, having already exceeded the $10 billion mark by the third quarter.

With the UAE hosting the conference, GCC governments and corporates have renewed their focus and commitments to energy transition and carbon neutrality. This has sparked a slew of green debt issuances, led by the UAE, which has accounted for nearly 40% of green and sustainability sukuk proceeds in 2023.

This update includes the latest statistics and insights on green and sustainability sukuk, highlights from the roadmap we proposed in the 2022 report, and profiles of some of the largest issuances this year.

Access the full report to find out more about:

  • Up-to-date statistics on the global green and sustainability sukuk market
  • Recent developments and emerging trends in the ESG sukuk market
  • Roadmap for green and sustainability sukuk