Faith based investors have long associated their investments with their beliefs and ethics, from opposing the apartheid regime to removing their investments from the arms trade, tobacco, or the gambling industry. As with every part of a Muslim’s ethical values, our investments must be guided by Islamic ethics.
As faith based organisations, who advocate for action on climate change, it is now time that Muslim communities look to moving towards climate friendly investments and away from the fossil fuel industry. Profiting from fossil fuel production in its current form is financially unnecessary, morally wrong and goes against the spirit of the Quranic teachings of good environmental stewardship.
Allah (swt) says in the Quran:
“Corruption has appeared on land and sea by what people’s own hands have wrought; that He may let them taste the consequences of their deeds so that they may turn back” – Quran 30:41
Within the ‘Islamic Declaration on Global Climate Change’ we find the following appeals:
- Shoulder the consequences of profit making activities and take a more visibly active role in reducing their carbon footprint and other forms of impact on the natural environment.
- In order to mitigate the environmental impact of our activities, we must commit ourselves to 100% renewable energy and/or a zero emissions strategy as early as possible and shift investments into renewable energies.
We call upon all Muslim individuals and institutions to immediately commence a comprehensive process to evaluate all of their current savings and investments to ensure that they are not invested in the fossil fuel industry. There is little time to bring about the transition, action is urgent, and the Muslim community should stand firmly amongst the global community of people dedicated to climate action. Already trillions of dollars from investment funds, public institutions and individuals have duly been divested from fossil fuels, millions coming from the faith communities around the world. The impact of the divestment movement is being felt and we must continue with the campaign to ensure momentum continues and investment is made towards sustainable and renewable energy.
We also call on governments and politicians to tackle habits, mindsets, and the root causes of climate change. Governments are responsible for the wellbeing of the people they represent and therefore support is needed at government level to move away from dependence on fossil fuel and towards sustainable energy in order to tackle the negative consequences of climate change. Specifically, governments need to follow the example of countries such as Ireland who have divested all interests in fossil fuel-related investments from their sovereign development fund.
We recognise and affirm the scholarly work and conclusions of the statement of fossil fuel divestment by the Fiqh Council of North America. The need to realign our finances in keeping with Islam’s ethical values by moving to climate friendly investments based on the prohibition of usury, has never been more urgent. Continued investment towards climate solutions is vital, whether in renewable energy, efficient buildings, low-carbon transport (especially public transport), more sustainable food habits, recycling or other forms of circular economy.
Loving the creation of Allah is part of one’s love for Allah. Divesting from fossil fuels and reinvesting in cleaner renewable energy is the only way to provide for a sustainable future for the generations already born and those to come.
“The world is sweet and green and verily Allah (swt) has made you stewards in it.”
Prophet Muhammad (pbuh) – Sahih Muslim
- Fazlun Khali: Founder/Director – Islamic Foundation for Environmental & Ecological Sciences (IFEES/EcoIslam)
- Qari Asim MBE: Chairman – Mosques & Imams National Advisory Board (MINAB)
- Shaykh Sultan Niaz ul Hassan: Chairman – Bahu Trust