Discover the latest topics in sustainable finance
Industry Events
COP28 - Dubai Financial Markets
Capital Markets and ESG: Sharing Dubai's Transformational Experience
Luma Saqqaf joined ALI ALHASHIMI, Aakash Nijhawan, Redwan Ahmed on the panel "Capital Markets and ESG: Sharing Dubai's Transformational Experience” at #COP28 moderated by Dhanya Issac.
The session discussed the climate transition journey for Dubai and the UAE, led by the DFM and local champions such as DP World and Dubai Electricity & Water Authority - DEWA.
COP28 - ITFC
Sustainable Synergy: Islamic Finance and Carbon Credits in a Green Economy
Luma Saqqaf spoke at the International Islamic Trade Finance Corporation (ITFC)’s "Sustainable Synergy: Islamic Finance and Carbon Credits in a Green Economy” event alongside Eng. Hani Salem Sonbol, CEO of ITFC and Acting CEO of ICD, Scott Levy, CEO of Bedford Row Capital and Professor Lisa Wilson [Short] Wilson, CEO of XTCC moderated by Cornelia Meyer, CEO of Meyer Resources.
COP28 - Bloomberg
Sustainable Financing Structure to Entice Green Funding into the GCC
Our CEO Luma Saqqaf had a great discussion on the panel hosted by Bloomberg Intelligence, ‘Sustainable Financing Structure to Entice Green Funding into the GCC’ along fellow experts, Salome Skhirtladze, CFA from Bloomberg Intelligence, Shargiil Bashir FAB, Eric Kane, Bloomberg intelligence and moderated by David Massias.
VCM & PIF - Riyadh
Impact of Islamic finance on carbon markets
As part of the agenda of the first ever Global South Carbon Markets Conference: The Riyadh Edition, convened by VCM and Public Investment Fund (PIF) in association with S&P Global, Luma Saqqaf joined Nazeem Noordali, COO, International Islamic Trade Finance Corporation (ITFC), Professor Lisa Wilson [Short], Managing Director, XTCC and moderated by Nasser M. Al-Thekair, General Manager of Trade & Business Development, International Islamic Trade Finance Corporation (ITFC) on the panel to discuss "Impact of Islamic finance on carbon markets”.
Amcham - Riyadh
ESG Risk management & Integration in Financial Institutions
Luma Saqqaf moderated a panel on “ESG Risk management & Integration in Financial Institutions” during the ESG Finance Conference organized by The American Chamber of Commerce Saudi Arabia (Amcham Saudia Arabia) experienced speakers including Christian Gueckel - Chief Risk Officer, Head of Research, SEDCO Capital | سدكو كابيتال, David Staples - Managing Director, Moody's Corporation, Matteo Grassani CFE MSc Group Deputy General Counsel, Zahid Group, Salman Aldukheil CEO, Aldukheil Financial Group - مجموعة الدخيل المالية and Sarah Mikhail, CITF, CSCF, VP, JPMorgan Chase & Co.
LSEG - Doha
Stepping up regulatory vigilance around greenwashing
Luma Saqqaf joined a panel discussing #Greenwashing #ESGwashing at LSEG (London Stock Exchange Group) #menareg23 summit joined by
Ehab Shalaby, PhD Qatar Charity Ali Al-Shabibi and moderated by Mustafa Adil from LSEG.
IFN Forum - Oman
Building Oman as a regional centre for Islamic finance and capital markets
Luma Saqqaf moderated a great panel with deep experience in Oman capital markets: Suad Al Balushi, FRM, ACI from Oman Housing Bank S.A.O.C, Mohamad Noranuar Sajari from Bank Nizwa and Vinod Sadhwani from @mb holding company llc on Oman’s Islamic and sustainable capital markets prospects.
IIFM
SDG’s and the Evolving Sukuk landscape
Joining the International Islamic Financial Market (IIFM) webinar on Publication of their Sukuk Report (12th Edition)to discuss the SDG’s and the evolving sustainable sukuk landscape. Luma Saqqaf was joined by David Testa, Ahmed M.Yousef Jan, Lilian Le Falher, CFA and Hatim Tahir, PhD (London) and moderated by Mustafa Adil (LSEG).
IFN - London UK
The strategic development of Islamic sustainable finance
Luma Saqqaf joined a panel during the IFN Forum- UK to explore the strategic development of sustainable, Islamic, social finance.
She was joined by Khaled Khalifa , 'Mohammed' R. Kroessin, PhD, ACSI, Munirah Khairuddin and moderated by Farmida Bi.
IFN - Dubai
Islamic sustainable finance dialogue
Luma Saqqaf gave the opening speech for the Islamic Sustainable Finance & Investment Dialogues in Dubai.
Luma also joined at a discussion panel by a line-up of distinguished panellists: Basheer Ahmad, Ijlal Alvi, Husain Alkhaja, Maali Qasem Khader, Obaid Saif Al Zaabi, Yavar Moini, and Sharifatul Haniza Said Ali. The panel was moderated by Vineeta Tan.
IPO MENA - Dubai
Valuation upside of ESG integration
A great panel including Luma Saqqaf, Marie-José Freier (Barclays Capital) and Diako Makhmalbaf (HSBC) at MENA IPO SUMMIT SERIES to discuss several sides of the impact of ESG integration on company value, the company perspective as well as the investors and market.
Published articles
IFN Islamic Finance News
Carbon Markets have been touted by key parties such as UNFCCC, the World Bank and GFANZ as critical to the net zero journey and financing a just transition to the Global South.
Nevertheless, carbon markets are not yet sufficiently mature and challenges remain, such as ensuring integrity, and eliminating greenwashing and preparing all actors to address policy and regulatory risks.
In our region, discussions around carbon markets are being driven by the UAE and Saudi, so naturally the development of Shariah compliant carbon-related products is evolving too. Luma Saqqaf shared some thoughts for the IFN about the emerging challenges of Voluntary Carbon Markets and the potential overlap between carbon credits and Islamic Finance.
IFN Islamic Finance News
Despite the sustainable Islamic finance market seemingly growing at a slower rate compared to global Islamic finance, there are many indications for its growth in 2024. Luma Saqqaf writes in Islamic Finance News a brief overview of 2023 for this growing market.
Key indicators include:
- The market-acknowledged synergies between Shariah concepts and sustainability called the move from ‘Halal to Tayyib’, and Asia’s key strides in this direction.
- There are similar developments in the Middle East, driven by the climate resilience leadership shown by the UAE and Saudi Arabia.
- Both these countries consider themselves beacons for Islamic finance, with a current significant focus on ESG that is only expected to support the growth of Islamic Finance. Indeed, 51% of all GCC Sukuk issued to date are ESG Sukuk.
- This year’s developments relating to Shariah compliant carbon trading, with the UAE and Saudi Arabia announcing carbon exchanges this year.
ESG Investor
In the run up to COP28 , all eyes are on our region. Luma Saqqaf speaks to ESG investor about the complex picture across MENA, and how unique country dynamics, both in terms of climate risks and economic contexts, are impacting progress.
That diversity makes it difficult to generalise, but does mean that the region acts as a microcosm of the wider world, with inevitable disparities and differences in transition pathways – all of which present challenges for the COP negotiations and developing the necessary finance infrastructure.
Business Chief
Luma Saqqaf, CEO of Ajyal Sustainability Consulting, who believes that as the ESG backlash grows, it doesn’t mean ESG reporting in the wider context can be taken lightly – due to changing regulations and far-reaching changes in market behaviour.
IFLR
The movement from 'Halal' to 'Tayyib' in Islamic finance has gained significant traction in recent years. But what does this shift actually mean for Islamic finance practitioners?
Traditionally, Islamic finance primarily focused on adhering to Sharia compliance through a negative screening list to avoid 'sinful' activities—a ‘sin’ list, if you will. Beyond this, the ethical nature of borrowers' activities was not central to financial discussions.
This has started to change since the emergence of sustainable finance, and its emphasis on ethics and ESG criteria.
In this piece for IFLR, Luma explores the transition in narratives and what it may mean for all players within Islamic finance.
ICAEW
To prepare the finance function of a company it is important to understand that any shift a company makes in the sustainability area will have a direct impact on the business model and therefore finances. The finance function must deal with all the risks and opportunities that stem from an ESG strategy or pledge.
Our CEO, Luma Saqqaf, shared some thoughts with @ICEAW their latest article on how the finance function needs to adapt to sustainability alongside other experts such as Vineta Bajaj , Group CFO of Rohlik Group, Elena Zayakova-Williams, Senior Director of Sustainability and ESG at Sage and Mark Lumdson-Taylor.
Business Chief
There is inherent risk in a shift to deglobalisation at a time when more globalisation is needed, argues Luma Saqqaf, CEO, Ajyal Sustainability Consulting
Net Zero Professional
In today’s climate, having a verifiable net zero transition strategy is considered an asset in investment decisions. But how can investors identify investible assets? What are the drivers in green financing and what are the main markets and sectors which can help plug the $3+ trillion needed in capital investment each year between now and 2050 to build a net-zero global economy?
These are the questions Luma Saqqaf tried to answer in an interview with journalist Nick Gibson From Net Zero Professional.
ESG Investor
Luma Saqqaf, CEO of Ajyal Sustainability Consulting, considers whether the world’s foremost sustainability accelerator is shooting itself in the foot.
Comment Central
There are different views on the success of last year’s COP27. But if you look at it through the lens of the developing countries across Africa and the Middle East, you will see it was successful.
IFN Islamic Finance News
As we leave a year behind, our CEO, Luma Saqqaf shared some reflections on the state of Sustainable Islamic finance global markets during 2022 and some expectations for 2023 in her contribution to the IFN Annual Islamic Finance Guide 2023.
A strong MENA regional drive towards sustainability that is riding on a great growth story, coupled with specific climate focus by holding Cop27 and Cop28 in the region, MENA is primed for Islamic finance growth especially out of KSA that is specifically focused on that.
Sustainable Future News
COP27 may have been disappointing in that it simply maintained the COP26 language around supporting the commitment to 1.5°C without stronger language on additional efforts on emission reduction. But, nevertheless, for some it did bring important positive developments. Luma Saqqaf, CEO of Ajyal Sustainability Consulting, argues in this guest post why parts of COP27 should continue to be celebrated.
ESG Clarity
COP28 is taking place in the UAE - home to some of the world's largest oil and gas producers.
Sustainable Future News
With the next two COPs based in the Middle East and North Africa, Luma Saqqaf explains the region’s climate challenges and opportunities. And why the world is watching.
Sustainable Finance News
Recent news has cast a negative light on ESG investing, but guest writer Luma Saqqaf, a sustainable finance practitioner, explains why the current bad press could lead to a positive step forward.
IFLR
Islamic finance expert Luma Saqqaf considers the specifics of structuring a combined Islamic sustainable transaction.
Podcasts
Ta7tElhawa with Cyba Audi
Luma Saqqaf talking to Cyba Audi on Cyba’s podcast Ta7tElHawa on sustainability topics including Greenwashing, Cop 28, Anti- ESG and many topics relating to sustainability in the Arabian Gulf.
Sustainable Finance Podcast
Luma Saqqaf continues her conversation with Paul Ellis to talk about what to expect in COP27 and some of the initiatives that will be launched by Egypt during the conference such as NWFE and the Just Finance Guidebook.
Sustainable Finance Podcast
This September, Luma Saqqaf was a guest of Paul Ellis on the Sustainable Finance Podcast sharing her thoughts on the sustainable finance landscape in MENA, the significance of hosting of COP27 in Egypt and COP28 in the UAE and the possibilities for sustainable finance and green Islamic finance in the region.
ESG Decoded Podcast
Luma Saqqaf was the guest of Kaytlen Allen this September on ESG Decoded Podcast to talk about ESG perspectives form the Middle East.
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