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Development of green sukuk market in Malaysia: a case study

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Date
2020
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Abstract
The concern over climate change has risen substantially over the years which led to an increase in demand for production and use of carbon free, clean and renewable energy. Financing renewable energy is costly as it is considered developmental, hence Green Sukuk is an innovative initiative to fill this gap. This study attempts to give an overview of the development of green sukuk in Malaysia. This study will conduct a qualitative analysis of three Green Sukuk issued in Malaysia. Data is gathered by extracting information from the Information Memorandum of the respective green sukuk issuer and other secondary sources. The projects financed by the three green sukuk in this study are all Power Purchase Agreement (PPA) based model which are signed between Issuer and Tenaga Nasional Berhad (TNB). In Malaysian green sukuk landscape, Securities Commission Malaysia plays a central role in supporting and encouraging the issuance of green sukuk through Sustainable and Responsible Investment (SRI) Sukuk Framework introduced in 2014. The prospects of green sukuk market in Malaysia is promising in terms of feasibility of its issuance, market demand and the potential environmental impact of the projects.
Keywords
Green sukuk , Malaysia , Project paper (MSc)
Citation
Noralfian, M, A. (2020). Development of green sukuk market in Malaysia: a case study (Master dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/3977
Publisher
INCEIF

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