This report, "Mobilising Islamic Banking for Climate Action," was published in October 2023 by the United Nations Environment Programme Finance Initiative. It discusses the potential for Islamic banking to play a role in addressing climate change. The report notes that Islamic banking is based on principles that align with sustainability, such as the prohibition of interest and the requirement for investments to generate social and environmental benefits. It suggests that Islamic banking could be used to finance renewable energy projects and other climate-friendly initiatives. The report also highlights the need for collaboration between Islamic financial institutions, governments, and other stakeholders to fully realize the potential of Islamic banking for climate action.
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