UKIFC/Refinitiv 2023 Report | Market Report | The Knowledge Portal

  • $30-50 billion opportunity for green and sustainability sukuk in delivering SDGs
  • Green and sustainability sukuk reach new high as ESG bond issuance hits $1 trillion mark
  • Funding Covid recovery pushes sustainability sukuk to the forefront
  • Indonesia and GCC account for more than half of ESG sukuk value
  • Development of green and sustainability sukuk ecosystem pioneered by Southeast Asian markets
  • Broadening horizons: a roadmap for green and sustainability sukuk

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UKIFC Indonesia Report | Market Report | The Knowledge Portal

In 2015, the United Nations (UN) established a blueprint for addressing economic, social, governance, and environmental challenges – the Sustainable Development Goals (SDGs). It is estimated that funds of up to US$7trn are required on an annual basis for initiatives aligned to the SDGs.

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World Bank Report | Market Report | The Knowledge Portal

July 27, 2020, marked the 3-year anniversary of the first green sukuk issuance, and there has been tremendous progress in the adoption of the green sukuk as a key capital market instrument to fund environmentally friendly projects. There is widespread awareness, greater technical capabilities in the markets that have embraced the green sukuk, and market-driven product innovation pushing the envelope.

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HSBC UN Sustainable Development Goals Bond and Sukuk Report 2022 | Market Report | The Knowledge Portal

A bank like ours has a responsibility to lead on climate change. We’re global; we seek to help finance the future, but also we’re present across emerging economies where the transition will be the toughest, where there’s a heavy reliance on fossil fuels. It is our ambition to achieve net zero by 2050 and support our customers in their transition to a sustainable future with 750 billion to 1 trillion US dollars of sustainable finance and investments.’

Celine Herweijer, Group Chief Sustainability Officer, HSBC

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GCC SUKUK: A PRIMER Investment Characteristics of US Dollar-Denominated Sukuk Originating from the Gulf Cooperation Council 2022 | Market Report | The Knowledge Portal

This 2nd edition GCC Sukuk Primer provides an overview of the investment landscape and characteristics of Islamic-compliant investment certificates, commonly referred to as sukuk, a market niche that continues to evolve. We
will cover the risk and return attributes of sukuk and explore their relationship to changes in the price of oil, since hydrocarbons largely drive sukuk issuers’ economies. Our scope is limited to US dollar-denominated sukuk, primarily
originating from members of the Gulf Cooperation Council (GCC), a collective coalition that comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).

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IIFM Sukuk Report 2022 | Market Report | The Knowledge Portal

This research report scrutinizes the International and Domestic Sukuk market developments, structural preferences and other relevant factors based on verified Sukuk issuance data with particular focus on the year 2021. As the case previous year, Sukuk market maintained its positive growth trajectory and posted yet another record year of issuances which evidently put Sukuk as one of the main driving force of the industry though 2021 has being a challenging year due sharp rise in commodity prices particularly Oil and inflationary pressure on global economy.

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Ministry of Finance Indonesia Green Sukuk Allocation and Impact Report 2023 | Market Report | The Knowledge Portal

Since its Green Sukuk debut in 2018, the Republic of Indonesia has not only succeeded to enter the market as the world’s first sovereign Green Sukuk issuer, but have also finally issued the fifth Global Green Sukuk in 2022, accumulating the proceeds at USD 6.9 billion. The 2022 Global Green Sukuk issuance marked several notable achievements amidst the volatile global economy, including the largest Green Sukuk tranche ever printed globally and the first Green Sukuk tranche in 10-year maturity by the Republic of Indonesia. In addition, the Republic issued its inaugural Project-based Green Sukuk and Retail Green Sukuk (ST 009) for the domestic market in the same year. These thriving Green Sukuk issuances have consolidated Indonesia to steadily and consistently develop various non-state budget climate financing instruments.

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UKIFC Refinitiv Report | Market Report | The Knowledge Portal

The “Green and Sustainability Sukuk Report” report is a collaboration between Refinitiv, London Stock Exchange, UKIFC and GEFI. The report is a key outcome of the HLWG that will be informing and guiding the working group’s action plan for the coming two years.

The report provides insights on the green and sustainability sukuk market and broader ecosystem, in addition to outlining a roadmap to guide industry stakeholders across in building and enhancing this market for funding sustainable development plans.

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Ministry of Finance Malaysia Sukuk Allocation and Impact Report 2022 | Market Report | The Knowledge Portal

Leveraging on investor appetite for sustainable financing, the Government of Malaysia (GoM) issued a USD sukuk, structured based on sustainability principles in order to attract high quality investors as well as set new benchmark yields for other Malaysian issuers. Thus, the Government continue to tapped the global market through the issuance of USD-denominated dual tranche sukuk issuance of USD1.3 billion in April 2021, amid the challenging environment due to prolonged COVID-19 pandemic. The 10-year tranche of USD800 million, recorded a new milestone as the world’s first USD Sustainability Sukuk issued by a sovereign, signifying the Government’s latest commitment towards advancing sustainable development. At the same time, the Government also issued a 30-year tranche of USD500 million.

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Majid Al Futtaim Green Sukuk Report 2022 | Market Report | The Knowledge Portal

This research report scrutinizes the International and Domestic Sukuk market developments, structural preferences and other relevant factors based on verified Sukuk issuance data with particular focus on the year 2021. As the case previous year, Sukuk market maintained its positive growth trajectory and posted yet another record year of issuances which evidently put Sukuk as one of the main driving force of the industry though 2021 has being a challenging year due sharp rise in commodity prices particularly Oil and inflationary pressure on global economy.

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