AN ETHICAL BRIDGE BUILT ON SHARED VALUES BETWEEN ISLAMIC FINANCE AND ESG
AN ETHICAL BRIDGE BUILT ON SHARED VALUES BETWEEN ISLAMIC FINANCE AND ESG

Author(s): Sava Hristov Dimov
Subject(s): Politics / Political Sciences, Economy, Law, Constitution, Jurisprudence, Governance, Financial Markets, Sharia Law
Published by: Бургаски свободен университет
Keywords: ethical bridge; shared values; islamic socio-economic system; islamic banking and finance; environmental; social & governance; green and circular economy; global value chains.
Summary/Abstract: The article discusses the shared values between Islamic finance and the concept of environmental, social and corporate governance. The ESG framework underpins flexible, sustainable and responsible investing. In that regard, some contemporary views on reconciling Sharia with sustainable investing are considered. The author utilizes materials from CFA Institute, World Bank Group, PricewaterhouseCoopers, Deloitte & Touche and new research by Islamic scholars to prove their point. Sectors of the Islamic finance industry show more sustainable rates of development. The author has reason to assume that the presumed projections (2030-2050) of Islamic finance will confirm such a tendency. Islamic finance is therefore more adaptive and demonstrates flexible resilience to ESG investing, good environmental, social and governance outcomes.

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