Global green Sukuk issuancesIn June 2017, Tadau Energy Sendirian Berhad, Malaysia became the first green Sukuk issuer with the issuance of a 250 million ringgit ($58.4 million) Sukuk for financing a 50-megawatt large-scale solar project. The Indonesian government is the largest issuer of green Sukuk while Malaysia has the largest number of private green Sukuk issuers, who are supported by green bond grants and tax incentives. Taking the lead in green Sukuk issuance, Malaysia has introduced green Sukuk standards called the Sustainable and Responsible Investment (SRI) Sukuk Framework. Under this framework, issuers of green Sukuk that are compliant with Malaysia’s SRI Sukuk Framework receive tax incentives and a subsidy. Indonesia has also introduced the Green Bond and Green Sukuk Framework to promote green Sukuk.

Source: The Express Tribune November 27, 2023 16:45 UTC