Sharia Frameworks for Sustainable Development: Aligning Sharia Governance with Sustainable Development Goals for Climate Action and Responsible Consumption

Khalid HasaniFollow

Submission Type

Paper Presentation

Abstract/Description

This paper explores the role of Sharia governance frameworks in promoting sustainable development, focusing on how Sharia-compliant practices can be aligned with the United Nations Sustainable Development Goals (SDGs), particularly SDG 12 (Responsible Consumption and Production) and SDG 13 (Climate Action). The study examines the intersection of Islamic finance, environmental stewardship, and ethical consumption, emphasizing key Sharia principles such as Khilafah (trusteeship of the Earth), Maslahah (public interest), and Istislah (welfare maximization) in addressing global sustainability challenges. By investigating existing Sharia-compliant financial tools, such as Green Sukuk, and institutional mechanisms within Islamic finance, the paper highlights the potential for these frameworks to drive climate action and promote responsible resource usage. The research proposes a comprehensive Sharia-based governance model that integrates environmental responsibility and ethical consumption into decision-making processes, aiming to improve SDG outcomes in Muslim-majority countries and globally. This framework emphasizes the importance of Sharia scholars, regulatory bodies, and financial institutions in fostering a sustainable future, while also addressing challenges in the standardization and implementation of these practices across diverse contexts. Through this analysis, the paper contributes to the growing body of literature on the convergence of Islamic governance, sustainable development, and climate change mitigation.

Keywords

Sharia Governance, Sustainable Development Goals (SDGs), Islamic Finance, Climate Action, Responsible Consumption, Green Sukuk, Ethical Finance, Islamic Economics, Sustainability Framework, Sustainable Finance, Ethical Resource Use, SDG 12, SDG 13

Location

Movenpick Hotel

Session Chair

Dr. Muhammad Ayub, Professor, Riphah University, Islamabad

Session Moderator

Dr. Shafiullah Jan, Head Center for Excellence in Islamic Finance, Institute of Management Sciences (IMSciences)

Start Date

3-12-2024 4:10 PM

End Date

3-12-2024 5:30 PM

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Dec 3rd, 4:10 PM Dec 3rd, 5:30 PM

Sharia Frameworks for Sustainable Development: Aligning Sharia Governance with Sustainable Development Goals for Climate Action and Responsible Consumption

Movenpick Hotel

This paper explores the role of Sharia governance frameworks in promoting sustainable development, focusing on how Sharia-compliant practices can be aligned with the United Nations Sustainable Development Goals (SDGs), particularly SDG 12 (Responsible Consumption and Production) and SDG 13 (Climate Action). The study examines the intersection of Islamic finance, environmental stewardship, and ethical consumption, emphasizing key Sharia principles such as Khilafah (trusteeship of the Earth), Maslahah (public interest), and Istislah (welfare maximization) in addressing global sustainability challenges. By investigating existing Sharia-compliant financial tools, such as Green Sukuk, and institutional mechanisms within Islamic finance, the paper highlights the potential for these frameworks to drive climate action and promote responsible resource usage. The research proposes a comprehensive Sharia-based governance model that integrates environmental responsibility and ethical consumption into decision-making processes, aiming to improve SDG outcomes in Muslim-majority countries and globally. This framework emphasizes the importance of Sharia scholars, regulatory bodies, and financial institutions in fostering a sustainable future, while also addressing challenges in the standardization and implementation of these practices across diverse contexts. Through this analysis, the paper contributes to the growing body of literature on the convergence of Islamic governance, sustainable development, and climate change mitigation.