Beyond Profit: Global Purification Fund and SRI / Green Sukuk for a Sustainable Future (London)

The Islamic capital markets have seen a natural progression from the issuance of traditional sukuk to socially responsible investment (SRI) sukuk or green sukuk instruments raised to fund socially and environmentally friendly projects. This shift is largely caused by the increasing demand amongst investors to ensure investments bring about positive social impact and do not cause harm to the environment.

Government budget constraints, particularly in emerging markets, have also contributed to the demand for further innovation to fund the construction of social infrastructure and public assets. Social sukuk and charity based funds from income that require purification by Islamic institutions are just some of the instruments being explored to answer this fiscal call.

Bespoke Globiz - Consulting & Advisory and CMS are delighted to be co-hosting an event to discuss some of these innovations namely:

• The creation of a 'Global Purification Fund' built from income set aside for charity by Islamic institutions. Proceeds are to be used to fund construction of social assets such as schools and hospitals; and
• The increasingly prominent role of the SRI and green sukuk in funding socially responsible investments, particularly in sectors such as education and healthcare and how the UK can potentially tap into this instrument for funding.