NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The global ethical finance industry constitutes approximately USD 22.89 trillion worth of assets under management, an increase of 25% from 2014. However, this is seen in institutions and assets within developed markets.

Ethical finance is on track to developing its global value proposition. However, catalyzing the wider adoption requires concerted efforts to build meaningful dialogue between the two main areas of ethical finance: one segment that integrates environmental, social and governance (ESG) factors, and Islamic finance which is expected to rise from USD 2 trillion to USD 3.5 trillion by 2021.

There is a unique opportunity for ethical finance players in developed markets to connect with the Islamic/faith-based financial sector which enjoys a strong foothold in Muslim-majority emerging markets.