Fitch: ESG Sukuk Market to Top US$70 Billion by 2026

Global outstanding environmental, social, and governance (ESG) sukuk is projected to exceed US$70 billion by the end of 2026, driven largely by strong momentum in emerging markets, according to a new report by Fitch Ratings.

Fitch noted that ESG sukuk accounted for roughly 40% of emerging market ESG debt issuance in 2025, up sharply from 18% in 2024, highlighting the increasing role of Islamic finance instruments in sustainable funding.

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