Kuala Lumpur, MALAYSIA – 21 July 2026 – The Islamic Financial Services Board (IFSB) today published an Exposure Draft (ED GN-12) on the Guidance Note on Sustainability-related Issues and Climate-related Financial Risks for Ṣukūk for public consultation.
The Exposure Draft provides guidance to regulatory and supervisory authorities (RSAs) on sustainability-related issues and climate-related financial risks that may arise in relation to ṣukūk.
It focuses on specific considerations arising from ṣukūk structures that may have implications for the interpretation and assessment of sustainability-related claims and climate-related financial risks and complements existing international standards and guidance.
The Exposure Draft addresses sustainability-related issues relating to the basis and scope of sustainability-related claims, their continuing assessment throughout the life of the issuance, and the role of external reviews and sustainability-related assessments. It also addresses climate-related financial risks arising from underlying assets, changes in risk profiles resulting from asset substitution or replenishment, and the assessment methodologies for climate-risk exposures across different ṣukūk structures.
Feedback on the Exposure Draft is invited by 4 September 2026, 18:00 (UTC+8). Responses to all consultation questions are not required, and stakeholders may comment only on those questions relevant to them or provide general comments on any aspect of the Exposure Draft. After this deadline, the consultation will close and it will no longer be possible to submit comments.
A public hearing webinar will be held on 17 August 2026, 16:00–17:00 (UTC+8) to present the Exposure Draft and receive any questions from stakeholders as they prepare to provide their consultation feedback. Click here for details and registration.
How to provide feedback:
The consultation is now open. Please submit your comments by email to [email protected] by 4 September 2026, 18:00 (UTC+8).
The Exposure Draft and consultation questions are available for download from the IFSB website at https://www.ifsb.org/consultation/.
