Opportunities for Entrepreneurs in the Attainment of Sustainable Development Goals (SDGs) Through Halal Entrepreneurship

Umar Habibu Umar (20h8931@ubd.edu.bn)
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Umar Habibu Umar: Universiti Brunei Darussalam

A chapter in Contemporary Discourse of Halal and Islamic Entrepreneurship, 2023, pp 33-48 from Springer

Abstract: Abstract This paper explores the opportunities for halal entrepreneurs to fast-track the achievement of sustainable development goals (SDGs) by 2030. It is purely based on the literature review by using published papers and other online documents from reliable sources. The study shows that developing green products and services, adopting climate-friendly technologies, making ethical investments and promoting responsible production and consumption align with the provisions of Shariá upon which halal entrepreneurship is based. Besides, it reveals that investing in environmental, social and governance (ESG) activities by halal entrepreneurs is also consistent with Islamic law, which can potentially contribute to the sustainability of halal businesses, preservation of the environment and welfare of current and future generations. Consequently, supporting the achievement of the SDGs and investing in ESG projects strictly in accordance with Shari'a might offer opportunities for halal entrepreneurs to satisfy the needs of their various stakeholders (such as customers, employees, shareholders/investors, government and regulatory bodies, society, creditors, etc.), which will likely sustain the operations of halal businesses in both Islamic and non-Islamic countries. Finally, the chapter recommends essential ways of improving the role of halal businesses in achieving SGDs and stimulating halal entrepreneurs to ensure their products and services are green and disclose ESG activities in the annual reports.

Keywords: Halal; Halal entrepreneurship; Halal entrepreneurs; Sustainable development goals (SDGs); Environmental; Social and governance (ESG); ESG report (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-6427-7_3

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DOI: 10.1007/978-981-99-6427-7_3

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