EURKR, an ETF focused on European carbon allowances, demonstrates strong financial ratios where data is available, with zero debt and compliant liquidity levels. However, insufficient income statement details prevent full assessment of non-permissible income. Business activities appear permissible as they support environmental sustainability, aligning with Islamic principles of stewardship. No index inclusions confirm non-compliant status, but low ESG risks and positive social impact warrant monitoring. Overall, further screening of underlying holdings is recommended for Shariah investors.