Sultan Nazrin calls for Islamic finance to rethink climate investment
ISLAMIC finance should provide a model for reshaping how the world mobilises private capital for climate action, with risk-sharing and long-term impact taking precedence over short-term returns, His Royal Highness Sultan of Perak Sultan Nazrin Muizzu...
The Sultan of Perak, Sultan Nazrin Muizzuddin Shah, delivered a royal address titled "Building Resilience: The Intersection Between Capital, Climate and Innovation" at the 17th SC-OCIS Roundtable. The Oxford Centre for Islamic Studies, where the event took place, had humble beginnings in a wooden hut 40 years ago. The center, now a grand structure, symbolizes the unity of intellectual traditions from the West and the Muslim world.
The Sultan emphasized the importance of building resilience by integrating capital, climate, and innovation, as the world faces significant challenges from treating these aspects as separate concerns. He referenced Dr. Umer Chapra's work, which argues that wealth is a trust from God and should be protected along with other objectives like faith, intellect, posterity, and the environment.
The Sultan stressed that growth should not be an end in itself but should be balanced with environmental protection for the well-being of present and future generations.
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