To facilitate the growth of the sustainable sukuk market, the International Capital Market Association (ICMA), the Islamic Development Bank (IsDB) and the LSEG (London Stock Exchange Group) came together at COP28 in the UAE in December 20235 to develop this guidance for market participants, especially potential green and sustainability sukuk issuers and investors, that are less familiar with the structure of these instruments.

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More concretely, this practical guide aims to:

  • provide issuers and key market participants with information on how sukuk may be labelled as green, social or sustainability aligned with the ICMA Principles through examples, case studies and best practices, and thus help the development of the green, social and sustainability sukuk market;
  • increase investors’ awareness of sukuk as an asset class in global fixed income markets;
  • enable a wider set of bond and sukuk issuers around the world to access sustainable capital and thus help unlock further investment towards the achievement of the United Nations Sustainable Development Goals (U.N. SDGs); and
  • help confirm the wide applicability of the Principles across the global sukuk market, and ensure that the market continues to develop with high standards and integrity.

Read more about green, social and sustainability sukuk

Access the full guidance here