Before entering the post-2020 climate change regime, future energy projects will be ongoing. Continuous capital flux is extremely important to keep these projects running. On the other hand, as most green finance is based on the conventional financial structure, it is vulnerable to financial market conditions. Therefore, green Islamic finance based on oil money from the Middle East and Southeast Asia are recognized as alternative capital sources. In particular, green Sukuk is considered a favored option for South Korea in diversifying the foreign bond market and providing a chance for local energy companies to expand overseas to Islamic countries. This paper proposes eight typical Sukuk structures that can be used as green Sukuk and analyzes the world’s first green Sukuk case, Tadau Energy green Sukuk. In 2009, a discussion on green Sukuk and a draft of a bill was prepared in the National Assembly but the bill is still on the threshold because Sukuk is not understood completely. This paper introduces a new type of foreign financial tool to the public that can be applicable to education and project financing.
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