XTCC launches first Shariah-compliant investment ecosystem for high-integrity Carbon Credits
May 15 2024 - 2:00AM
XTCC, the investment ecosystem specialising in high-integrity
carbon credits, has launched the first Shariah-compliant
multi-currency asset class of high-integrity carbon credits.
Sourced exclusively from validated projects (including renewable
energy, nature-based solutions and blue carbon), XTCC gives
investors seeking Shariah-compliant investments the ability to
participate in the fast-growing carbon credit market.
This powerful combination of Shariah-compliant investments and
high-integrity carbon credits for the first time enables the
traditional Islamic finance market to participate in the potential
significant growth in value of the global carbon credit market.
Through XTCC, corporates, wealth managers, banks and investment
funds can invest with certainty and encourage further development
towards net zero goals.
In another capital markets first, XTCC for the first time
provides a stock market quoted price for the most important asset
for the net zero world.
Validated and certified for Shariah compliance by Yasaar
Research Limited, and using the ISDA/IIFM Master Agreement, XTCC
has established a robust framework for investment products
structured to meet Islamic ethical standards. Ethical integrity is
assured by Al Waseelah , a world-leading, award-winning Sukuk
issuance platform, creating a streamlined, transparent solution to
re-engineer trust in this important asset class.
XTCC not only adheres to industry standard transaction
documentation (ISDA/IIFM) but also includes in the reference basket
high-integrity carbon credits which conform to IOSCO’s 21
Good Practices and ICVCM’s Core Carbon Principles; science-based
principles for identifying high-integrity carbon credits that
create real, verifiable climate impact. XTCC also reports on
alignment with UN Sustainable Development Goals and ISO14064
standards.
Dr Scott Levy,
Founder, XTCC, said: "This is a
significant breakthrough for global capital markets. We have
created the first Shariah-compliant investment product to link
Islamic finance directly with accelerating investor demand for
high-integrity carbon credits.
In the same way that there ‘can be no compromise on Shariah
compliance’, we do not compromise our ethos of operating to the
highest standards of transparency and integrity with respect to all
of our investment products. XTCC is the asset class for the net
zero world.”
Majid Dawood, CEO of Yasaar, said: “We take pride
in certifying the Shariah compliance of XTCC’s investment products,
ensuring they meet the highest standards of Islamic finance. Our
expertise guarantees that every investment decision upholds the
ethical and financial principles necessary for true Shariah
compliance, empowering investors to contribute positively to
sustainable development initiatives with full confidence in their
adherence to Islamic values."
Renowned carbon market expert Kevin Iwanaga, co-founder of
the UAE Carbon Alliance and CEO of KBI Advisory Group, said:
“With global temperatures surpassing 1.5 degrees Celsius above
pre-industrial levels for the first time, and a staggering $7.3
trillion in funding needed by 2050 to bridge the climate finance
gap necessary to limit global warming to 1.5°C, we need every
solution available to address these crucial
challenges.
XTCC is rising to this challenge with the introduction of its
new Shariah investment products, engineered to scale global capital
flows in carbon markets by tapping into existing market liquidity
pools and new investors. This XTCC initiative is an excellent
example of the type of creative financial solutions needed to keep
1.5°C alive.”
-ENDS-
About XTCCXTCC is the world's first stock market quoted
investment ecosystem for high-integrity carbon credits sourced from
verified, audited projects including renewable energy, nature-based
solutions and blue carbon. XTCC has created financial instruments
that, for the first time, establish fair market value as a
reference for high-integrity carbon credits. To bridge the
multi-trillion-dollar gap in climate finance, investment is
required. XTCC provides capital markets with an ecosystem of
financial instruments to allow a river of liquidity to flow to
communities where it is most needed. XTCC is the asset class for
the net zero world.
For more details about XTCC and to explore its Shariah-compliant
investment products, visit www.xtcc.investments or contact our
Investor Relations team at ir@xtcc.investments.
About Al Waseelah Al Waseelah PLC is a world
leading, award-winning Sukuk issuance platform which offers a
flexible, quick-to-market solution for green and sustainable
businesses, financial institutions, asset managers, corporates and
family offices for their Islamic liquidity management and offers a
wide range of investment opportunities. Al Waseelah PLC offers end
to end solutions for Shariah structuring, arranging, originating,
and the listing of Shariah compliant notes, providing a streamlined
and cost-effective way of raising funding for businesses and
projects.
Find out more here.
About Yasaar A premier Shariah advisory firm, Yasaar
specialises in certifying and ensuring the compliance of financial
products with Islamic law. Leveraging extensive expertise and a
deep understanding of Shariah principles, Yasaar provides critical
oversight and advisory services that enable investors to engage
confidently in ethical and compliant investments. With a focus on
integrating innovative financial solutions with traditional Islamic
values, Yasaar empowers professional investors to achieve their
investment objectives while adhering to the highest standards of
integrity and compliance.
Find out more here.
Media Contact Tina KaneThe Realization
Grouptina.kane@therealizationgroup.com
Investor RelationsMuhammad
Nasir XTCC +372-56997961ir@xtcc.investments
Tina Kane
The Realization Group
tina.kane@therealizationgroup.com