ESG in Islamic sustainable finance

Razali, Normarianie and Hassan, Rusni and Mohd. Zain, Nor Razinah (2024) ESG in Islamic sustainable finance. In: Islamic Sustainable Finance: Policy, Risk and Regulation. Islamic Business and Finance Series . Routledge, London, pp. 24-32. ISBN 978-1-032-49784-6

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Abstract

Environmental, social, and governance (ESG) have gained popularity in the banking and finance industry since 2000, and Islamic finance is not far behind with ESG adoption and practices. Indeed, it can be considered more advanced, as it has been long practised and adopted by the Muslim community. Islam had beautifully laid rules for how a transaction should be conducted without harming the environment and society. Mankind, as a trustee to God, should share the wealth equitably by way of zakah, waqf, sadaqah, and Qard al-Hassan through wealth redistribution. These four instruments can be used to advance economic growth, environmental protection, and societal needs. Each stakeholder, such as the government and regulatory bodies, serves a crucial function to continuously contribute to the development of sustainability products and regulations to ensure the inclusivity of all. Islamic finance holds a promising future for more innovation in sustainable products that can benefit the environment and mankind through ESG integration.

Item Type:	Book Chapter
Uncontrolled Keywords:	Islamic banking and finance, ESG, Islamic sustainable finance, sustainable development goals
Subjects:	BPH Islamic Economics BPH Islamic Economics > BPH72 Economic development. Growth. Sustainable development. Sustainability BPK Islamic law. Shari'ah. Fiqh H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Asst. Prof Nor Razinah Mohd. Zain
Date Deposited:	13 Mar 2024 13:15
Last Modified:	13 Mar 2024 13:15
URI:	http://irep.iium.edu.my/id/eprint/111278

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