‘S-C-O-R-E’ Approach to Theoretical Roots of Green Sukuk

Plagued by the effects of global warming and amid alarming pollution concerns, the integration of eco-centric sustainability into financial realms has become the need of the hour. The constant pursuit of sustainable development has paved the way for a debt instrument called Green Sukuk, which is based on the Shariah principles of Islam. The integration of Conceptualization, Sustainability, Religion, Economics, and Obstacles is vital for Green Sukuk to prosper and proliferate. The objective of the paper is to unveil the theoretical underpinnings of the five facets- Sustainability (S), Conceptualization (C), Obstacles (O), Religion (R), and Economic (E) represented by the ‘S-C-O-R-E’ approach to Green Sukuk, which reflects the multitude of dimensions that constitute the fulcrum machinery of this contemporary socio- economic concept. The research methodology adopted a conceptual framework analysis supported by grounded theory coding logic, applied to the data-mined facets of ‘S-C-O-R-E’ mentioned above. With a 360-degree approach to Green Sukuk, this conceptual paper is a trailblazer for advocates of eco-centrism, sustainability strategists, critics of non-renewable energy sources, finance specialists, green marketers, and economists alike