The report calls for a new policy consensus based on equity, economic security for all, and solidarity. It emphasizes the need for structural transformations in policy, institutions, norms, and mind-sets, and a fundamental reorientation of policymaking through a social lens. A new consensus must prioritize strong social policies, investments in public institutions, and a people-centred approach to development, moving beyond the current over-reliance on markets.
Global trade relations are tense and there is a risk of unpredictable and potentially sharp changes in trade policies worldwide. Geo-economics confrontation (sanctions, tariffs, investment screening) ranks #3 for current (2025) risks according to the GRPS and #9 over a two-year horizon. This comes after trade tensions have already been rising steeply since 2017. According to Global Trade Alert, the number of harmful new policy interventions per year rose globally from 600 in 2017 to over 3,000 in 2022, 2023, and 2024.
During the opening ceremony, H.E Mr. Yousef Hassan Khalawi, Secretary General, AlBaraka Forum for Islamic Economy highlighted that the world has now spent more than a full century talking about sustainability. The Islamic world has 22 countries classified as least developed countries. We should focus on our nations and focus on our beliefs, as today we are trying to introduce Sukuk as one of our major initiatives created by Muslim economists, scientists, and experts.
The authors caution that democratic politics may or may not help fix dynamic social problems. The authors argue that even in their own optimistic model of politics—where parties maximize average utility of those currently alive— equilibrium policies may not put society on the right path, and the speed of the green transition may be too slow. Climate change and environmental degradation is a slow and cumulative process. To protect environment, the efforts also need to be cumulative and consistent. A self-centric secular worldview encourages the self-centric use of private property resources. However, even small things done collectively and consistently can have a larger effect.
The author urges responsible attitude towards ―limits to growth‖. The author argues for the equalization of endowments rather than expansion of policies that redistribute current income. Kate Raworth then lists seven ways of thinking about the economy that will help us manage common needs such as water, food, income – the things in the hole of the doughnut – so that humanity lands in the sweet spot rather than drifting past the outer ring – the ecological ceiling — where phenomena like ozone layer depletion thrives.
The threat of air pollution is not new, but it is changing. Air pollution has contributed to death and disease and has hurt economic prospects and community resilience for decades. During that time, policies and technologies have drastically improved air quality in some areas, saving lives, and proving that pollution is not an inevitable by-product of economic development.
Air pollution is a complex mixture of particles and gases with sources and composition varying over space and time. While hundreds of chemical compounds can be measured in the air, governments typically measure only a small subset as indicators of the different types of air pollution and major sources contributing to that pollution.
To fully address climate-related financial risks and promote sustainability, banks must balance their protective and proactive roles. While protecting assets from climate risks remains critical, it should not overshadow the need for a broader responsibility. Banks are uniquely positioned to be powerful agents of change, and by integrating sustainability into their operations and business strategies, they can contribute significantly to the global effort to combat climate change and foster sustainable development.
The forum emphasized on integrating Zakat and Waqf in a way that transforms lives and strengthens communities. There is need for collective vision encompassing the individual, the family, and the wider social order, fostering a comprehensive approach to socioeconomic development.
According to the World Health Organization, air pollution is now the world’s largest single environmental health risk. Air pollution is responsible for approximately 3.7 million deaths a year. Going forward, cities will generate approximately 2.2 billion tones of solid waste per year by 2025 which could poison soil and waterways, kill plants, and harm humans and animals.
Globally, among the 2,957 sustainability reports subject to an independent assurance, 1,668 (56%) were partially or fully verified under limited assurance, while 405 (14%) were partially or fully verified under reasonable assurance. Globally, 70% of the companies by market capitalization disclosed a GHG emission reduction target and nearly half of them set 2030 as the target year.
Islamic Economics Project 