Assalam Mou Alaikum,
I hope everyone is well, I am not sure if anyone has heard about the initiative that Rishi Sunak has announced re: Green Bonds. I was curious to know what the Islamic ruling is on investing in such products, as I am aware that while the funds are being used for a good cause but still have my doubts.
I have also included an article on the topic should anyone wish you to find out more:
Unfortunately, this is impermissible.
The government is issuing bonds to raise money and will pay interest on it. It intends to use the raised money to invest in green energy - which is great. But the bond is still an interest-bearing haram instrument.
Now wouldn’t it be great if there was a halal green bond?
Please someone - do it!