Panel discussion on “Islamic Social Finance for Climate Action” at COP28 in Dubai

In December, UNHCR organized, in collaboration with GreenPeace, a panel session on the role of Islamic social finance in addressing climate change, including the impact it has on the displacement crisis. The panel discussion delved into the transformative power of Islamic social finance in tackling global climate challenges and supporting communities affected by climate-induced displacement.

Khaled Khalifa, UNHCR Regional Representative and Senior Advisor, joined the panelists to voice out different tools of combining ethical principles with financial tools and how Islamic social finance offers innovative solutions and pioneering practices like Zakat, Waqf and Sadaqah in funding for sustainable development and resilience. Panelists also explored the potential of these financial instruments to create positive change and empower communities in the face of climate adversity.

Parallel High-Level Event on “the role of Islamic philanthropy in the humanitarian response to displacement crises” at the Global Refugee Forum in Geneva

Held every four years, the Global Refugee Forum is the world’s largest international gathering on refugees. It is designed to support the practical implementation of the objectives set out in the Global Compact on Refugees. In a dedicated parallel high-level event, UNHCR highlighted Islamic philanthropy’s importance, emphasizing the importance of partnerships between Islamic philanthropy organizations and UN agencies to maximize the impact of humanitarian programmes. Their commitment to including refugees in education and self-reliance programmes was demonstrated, with notable pledges including USD 4 million from the Muslim World League, and USD 100,000 from the Sheikh Abdullah Al Nouri charity for livelihood projects supporting Syrian refugee women in Jordan.