The ESG criteria of Islamic Finance against Climate change and towards Sustainability. The case of Green Sukuk

Tackling climate change has now become one of the top priorities for the interna-tional community, since the future of the next generations is increasingly threat-ened by production logics and market needs, typical of Western countries, charac-terized by greenwashing but without any scruples and ethical brake to protect the environment. Conversely, the Islamic financial system has been structured in an ethical way in order to guarantee all human beings wealth, productivity, develop-ment, poverty prevention, solidarity and social justice, in line with ESG criteria. Thanks to its intrinsic ethical characteristics dictated by faith, Islamic finance of-fers its contribution to the global commitment against climate change in the era of the green transition. The research method used is full qualitative, based on media and library research, with a comparative legal approach between traditional and Islamic financial sys-tem to investigate the stated problems. The result of this research, investigating the stated problems, is that one of the goals of Islamic finance, is to develop sustainable programs and to find financial solutions in line with the Green economy. One of the most interesting products is represented by the green sukuk, which are aimed at eco-sustainable projects in compliance with the religious law of Islam and with respect for the environment. The study highlights that there is therefore the possibility of implementing the global economy through the activation of some dedicated financial instruments, i.e. green sukuk, in line with ESG criteria and without having to further contrib-ute to the climate change crisis.