Tan Sri Ranjit Ajit Singh and SC deputy chief executive Datuk Zainal Izlan Zainal Abidin (centre) with representatives from The World Bank and IOSCO
KUALA LUMPUR: The Securities Commission is showcasing its leading efforts in the covergence of Islamic and green financing at the SC-WOrld Bank-IOSCO Conference 2018, themed "harnessing Islamic finance for a green future".
The SC, which issued the world's first green sukuk in July 2017, has issued five green sukuk under its sustainable and responsible investment sukuk framework totaling RM2.407bil with more expected this year.
The conference will discuss regulations and policy towards the adoption of Islamic finance in climate mitigation and adaptation efforts.
The SC cited a study by the UN Environment Programme and DBS that the demand for additional Asean green investment from 2016 to 2030 is valued at about US$30tril.
“Innovations in the use of Islamic financial instruments can go a long way in supporting sustainable development. In line with rising demand, the SC continues to facilitate the development of the ecosystem and products that meet the requirements of both SRI and Islamic finance, ensuring the capital market serves the needs of investors and issuers,” said SC chairman Tan Sri Ranjit Ajit Singh.
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