استخدام الصكوك الخضراء الإسلامية في تمويل المشاريع المستدامة : واقع و آفاق و تحديات

الملخص EN

Islamic sukuk are considered the legitimate alternative to traditional bonds.

this Islamic tool has proven its efficiency in mobilizing resources to finance various public and private sector projects.

with the trend towards a green economy and countries' aspiration to achieve sustainable development goals, and search for financing sources for sustainable projects, green sukuk emerged as an innovative type of Islamic sukuk based on Islamic formulas.

this study aims to show that the use of green sukuk in financing environmentally sustainable projects adapted to climate change will have future prospects for the growing demand of investors for this type of positive financing.

as a tool of the Islamic financial industry, it combines the characteristics of compliance with environmental and Shari'a standards.

to this end, the descriptive analytical, comparative and historical methods were used in this study.

amongst the most important results that have been reached is that green sukuk represents undivided shares in the ownership of tangible assets, usufructs or services in a specific project or private investment activity, which returns, are used to finance or refinance environmentally sustainable projects, and are subject to Shariah and environmental standards.

although its share of the global green bond market is very small, yet it is generally in constant development and represents a promising market for many countries.

it also faces various challenges, including what it has in common with green bonds, especially with regard to awareness, their credibility, and the frameworks and legislation regulating them in the capital markets.

moreover, there are other specific challenges that have to do with the green sukuk’s nature.

i.e., its agreement with the provisions of Islamic sharia that necessitates providing the means to promote this type of industry and its effective contribution to the capital markets, as it is based on innovative and diversified financing formulas that are compatible with ethical, environmental and social values.