The Road to the SDGs

initiatives. The second initiative was the launching of a global dialogue on the role of Islamic social finance (Zakat, Sadaqa charity and Waqf) in achieving the SDGs. It is noteworthy in this context that Zakat funds are currently estimated at US$ 300 billion worldwide. Launching this initiative was coordinated between IsDB and the United Nations Economic and Social Council under the auspices of UN Deputy Secretary-General Ms. Amina Mohammed, with a view to supporting the efforts to finance the recovery from the COVID-19 pandemic, which plunged millions into extreme poverty. QUESTION : One of the P5P objectives is to help MCs implement the Paris Agreement (on climate change). What are the measures taken by IsDB towards that end? ANSWER : IsDB MCs are countries most prone to natural disasters caused by climate change such as hurricanes, drought and flash floods. The scenes from a number of previous disasters remain in mind to date. When such disasters hit poor countries that have weak infrastructure and depend on agriculture and tourism, they lead to even more poverty, hunger and displacement and cause economic, social and security problems. That is why IsDB set climate change among its priorities over the past 5 years. In this regard, IsDB took several measures to help its MCs implement the Paris Agreement, improve life and reduce emissions, including: u Establishing a specialised department by the name of "Resilience and Social Development" in 2018. This department has 3 divisions concerned with fragility, climate change and crisis risk management. The department developed strategies, policies and plans aimed at enhancing MC resilience to, mitigation of and rapid recovery from disasters caused by climate change. u Issuing Green Sukuk worth €1 billion in the first ever IsDB initiative to fund environment-friendly projects in MCs. [ 24 ]