The UN is considering issuing a green Sukuk facility to help
raise funds for refugees and internally displaced individuals who have had to
migrate due to the adverse impacts of climate change.
Khaled Khalifa, a senior advisor and representative to the
GCC at the United Nations High Commissioner for Refugees (UNHCR), told
Al-Monitor on the sidelines of IFN UK Forum held on the 4th September 2023 that
the UNHCR is interested in using its third Islamic finance tool, which is
Sukuk, to help those displaced by severe climate conditions. He added that the
UNHCR is hoping to make a decision on the Sukuk within 2024.