In this decade, the entire world realized that a healthy environment is needed for mitigating catastrophic issues created by the nature. Thus, the green bond was introduced in 2007, and the green Sukuk was issued in 2017. Malaysia took the pioneering role for issuing green Sukuk and issued ten green Sukuk within 2020. Furthermore, Indonesia has taken initiative for issuing five green Sukuk in 2018. Besides that, Saudi Arabia issued two green Sukuk and the United Arab Emirates also issued two green Sukuk in 2019. As the green Sukuk was issued in various sectors which created a curiosity to know, what are the policies were created, how did they apply and how do they impact on the environment. Accordingly, the study aims to find out implemented policies to mitigate challenges for issuing all green Sukuk in four nations. So, this study was conducted through case studies on green Sukuk by analysing available data from the green Sukuk issuers, ministries, published literature and others. The study found that green Sukuk issuers were implemented the same policies that applied to issue green bonds and still remain a great challenge. It is because, every nation has a different geographical atmosphere, culture, religion and human behaviours. In addition, the study also found that all of the green Sukuk-issued projects were selected to reduce air pollution. Therefore, further research is needed on policy and project creation according to the nation for controlling other factors, such as; pollution (water, land, and sound), deforestation, and others.
Purpose Green Sukuk (GS) is a recent innovation that has the potential to serve humankind in sustainable development. However, its potential can only be achieved if the proceeds of GS are used for the priority areas needed. Therefore, the purpose of this study is to find out, using selected GS issued to determine whether the proceeds of GS are actually given to the needed areas. Design/methodology/approach This is qualitative research utilizing case studies where the “priorities given” areas are observed through information collected from the library that consists of primary and secondary sources, such as statutes, books, articles and internet sources, while “priorities needed to issue GS” areas are determined through information collected from Al-Quran and Hadiths to derive conclusions. Findings The outcome of this study reveals some untouched areas that needed immediate attention where GS can be implemented. This study recommends implementing GS for the plant, agriculture, forests, road, water, animal and others. One example in this regard is to create “forest sukuk,” which is a tool for financing forest preservation. Originality/value It is anticipated that, via the outcome of this research, GS issuance frameworks can be enhanced, especially in revising the areas in which Sukuk proceeds can be used, and it will provide guidance to the potential GS issuers to choose financing projects.
Abstract. Coastal zones are one of the major significant areas for human activities and infrastructure growth. As known as dynamic area, thus the important to do study comprehensively in order to avoid damage due to climate change and more on. The main tool to assess these system is numerical modelling of the coast to predict the coastal environment characteristics. Thus, this study simulates the hydrodynamic characteristics at Selangor coast by applying a numerical modelling of MIKE 21 software based on flexible mesh grids. The objective of this study is to stimulate and verify the best estimation of Manning values around the Selangor coast. This study was carried out to evaluate the accuracy of the simulation results, statistical analysis method namely Root Mean Square Error (RMSE) is calculated to compare the observed and simulated results. The device of Acoustic Wave and Current Profiler (AWAC) was installed and used to record the water level, current direction and current speed at two stations near shore at Carey Island. Most of the hydrodynamic parameter in this study between observed and simulated were achieved requirement standard error for hydraulic study by Department of Irrigation and Drainage (DID) guidelines on year the 2013. The outcome of this study recommend that the bed resistant is significant factor in the hydrodynamic simulation using MIKE 21 Hydrodynamic FM.
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