- Michael Gassner Consultancy Ltd, organises the 3rd Islamic Wealth Managenent Event in Geneva on 24+25 April 2007
- The organizers have partnered with Carbonfund.org to offset the CO2 emissions caused by the event
- New investment opportunities created by carbon regulation like the Kyoto protocol and EU Emissions Trading Scheme will be explained by Anthony Hobley, Chairman London Climate Change Services and analysed for Sharia implications by Michael Saleh Gassner, Islamic finance consultant
- The event is directed at the Islamic Private Banking industry to enhance knowledge, discuss trends and get the tools and strategies that work for Muslim high net worth clients
Michael Gassner Consultancy Ltd has organised the third annual Islamic Wealth Management event in Geneva at the Hotel du Rhone on 24 & 25 April 2007. The event has grown year by year and offers intimate insights into the Islamic Private Banking industry, its differences and commonalities with the conventional industry.
For the first time, the carbon emissions caused by the delegates and speakers will be offset. For example air flights are a major source of carbon dioxide, widely perceived to cause climate change. The organiser has partnered with Carbonfund.org in order to make it the first Islamic finance event to go carbon neutral by investing in projects that reduce carbon emissions by an amount equal to the emissions caused by the event itself.
Carbonfund.org is a non profit organisation that educates the public about the dangers of climate change and makes it easy and affordable for individuals, businesses and organizations to reduce their climate impact. Eric Carlson, executive director of Carbonfund.org explains: “We are delighted to help offset emissions and reduce climate impact for conferences and events, just like we help companies or even families to take voluntary measures to act against climate change.”
Beyond offsetting the carbon emissions from the event itself, the carbon allowance market will be discussed by Anthony Hobley, Chairman of the London Climate Change Services, the representative body for the UKs Climate Change Finance and Services business sector. One of its key objectives is to promote and build upon Londons emerging position as the centre for multi billion Euro global carbon market. Mr Hobley is also a Director of the specialised merchant bank Climate Change Capital based in Mayfair, London.
Investment banks like Morgan Stanley and Goldman Sachs are investing currently substantial amounts to enter the market of this entirely newly created asset class set by regulatory means. Michael Saleh Gassner will present views on the Sharia compliance regarding related investment products based on carbon markets, because as he says: “We see a fully new asset class, created to improve and protect the environment in an economically efficient way – how it can be promoted for and by the Islamic finance industry; what are the challenges in regard to the Islamic principles – this needs to be brought forward urgently.”
Carbon is just one of the outstanding topics researched and identified for the Islamic finance industry. The entire program comprises challenging lectures on traditional and alternative asset classes, on specifics of Islamic financial planning, market strategy and last, but not least, philanthropy.
