Mastodawn

"Pakistan’s government can potentially raise as much as Rs4 trillion ($14.3 billion) a year in climate resilience funding through the issuance of green and infrastructure sukuk, a senior member of the finance ministry’s advisory team said on Friday, adding the move may help the country transition toward an interest-free financial system."

https://www.arabnews.com/node/2624322/amp
#sukuk #GreenSukuk

This is potentially a path to climate finance that doesn't break countries by the burden of debt repayments.

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CelloMom On Cars

What is #sukuk?
In Islam, interest is prohibited as usury.

"While a bond is a contractual debt obligation of the issuer to pay to bondholders interest and principal, a sukuk is a certificate giving its holders beneficial ownership in the underlying assets. Consequently, sukuk holders are entitled to share in the revenues generated by the sukuk assets as well as being entitled to share in the proceeds of the realization of the sukuk assets."

https://en.wikipedia.org/wiki/Sukuk

Sukuk - Wikipedia

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CelloMom On Cars Jan 3

"Pakistan has surged to the top of the global climate risk index.

Critics highlight that the nation's inadequate efforts in disaster preparedness and infrastructure resilience have left it ill-equipped to handle climate impacts, cementing its position as the most vulnerable country. This perspective challenges the narrative that external climate forces alone are to blame, suggesting instead that systemic inaction has exacerbated Pakistan's exposure."

https://tribune.com.pk/story/2585164/financial-cost-of-climate-inaction-in-pakistan?