Sustainable Finance and a Sharī’ Analysis of Environmental, Social and Governance (ESG) Criteria

Aminudin Ma’ruf (), Ziyaad Mahomed () and Shamsher Mohamad
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Aminudin Ma’ruf: INCEIF
Ziyaad Mahomed: INCEIF

Chapter Chapter 9 in Islamic Finance and Sustainable Development, 2021, pp 193-217 from Springer

Abstract: Abstract Social and environmental issues have in the past decade contributed significantly to social inequality, poverty, corruption, loss of biodiversity, environmental degradation and climate change on a global scale. Addressing these issues have become very costly for affected countries and usually a trade-off for their national development budgets. One viable sustainable financing alternative for these social problems is using Islamic finance instruments, However, the focus of this chapter is to review the literature on environmental, social and governance (ESG) and Sharī’ah concepts to observe their common and divergence features, with the view to developing an Islamic ethical financial framework covering wider aspects in order to boost the performance of the Islamic financial industry. The objective is to assist society to secure better long-term sustainable prosperity, within the Islamic finance space.

Keywords: ESG; Sharī’ah; Islamic finance; Ethical finance (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-76016-8_9

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DOI: 10.1007/978-3-030-76016-8_9

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