ICLN
iShares Global Clean Energy ETF
Is ICLN Halal?
Clean energy — renewable energy is permissible and environmentally positive.
What You Should Know
ICLN holds global clean-energy companies. iShares reported renewable electricity at 24.04%, heavy electrical equipment at 22.49% and electric utilities at 11.45% on 8 July 2026; its environmental screens are not a Sharia certification.
⚠️ Concerns
- •Not Sharia-screened
- •Some utility exposure with debt
- •Environmental exclusions are not Sharia screens
Current quantitative Sharia screen
Based on Daily issuer holdings and net-assets page figures for the period ended 2026-07-13; calculated 2026-07-14.
0 / 2,509.706
0 / 2,509.706
0 / 2,509.706
- Financial
- Incomplete
- Overall
- Incomplete
Reported fund-level proxy ratios are below the examined asset limits, but a comparable prohibited-income numerator is unavailable.
- Financial
- Pass
- Overall
- Incomplete
The available fund-level proxy ratios are below the examined MSCI asset limits; the underlying portfolio has no universal prohibited-income classification.
- Financial
- Pass
- Overall
- Incomplete
The available fund-level proxy ratios are below the examined Malaysia limits; look-through activity remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series and fund-level prohibited-income convention are not stored.
Business-activity disclosure
ICLN is a global clean-energy pass-through ETF. Renewable-energy and equipment businesses are generally permissible, but it is not Sharia-screened and includes utility and technology issuers with issuer-specific financing profiles.
Limitation: The issuer discloses clean-energy screens, holdings and sector weights but no universal prohibited-revenue allocation across every underlying issuer.
Purification
ICLN passes through distributions from underlying issuers; no scholar-approved purification percentage is disclosed.
Inputs, assumptions and primary sources
- iShares reported USD 2,509.706 million in net assets as of 13 July 2026.
- The fund had 105 holdings; reported exposures included renewable electricity 24.04%, heavy electrical equipment 22.49%, semiconductors 15.87%, electrical components 14.71% and electric utilities 11.45%.
- ICLN applies environmental business-involvement screens, but those are not a Sharia methodology and do not replace issuer-level financial or activity screening. Fund-level debt, cash and receivable lines and prohibited-income allocation are not disclosed.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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