| Pursuing sustainability and converging to Circular Economy (CE) are fully synchronized with Sharia principles. However, the transition to CE is a difficult and lengthy process. It requires a fundamental change in the behavior of all relevant stakeholders, particularly consumers and producers. |
| This study sheds light on the definition of circular economy and the societal responsibility of Islamic banks in enhancing and implementing Circular economy programs through adopting actions which are in line with the Islamic law or driven by incentives of achieving rewards or quitting vilified business. |
| This study seeks to examine whether corporate environmental performance (CEP) and corporate social performance (CSP) affect stability of the banking industry. The topic is of much interest to researchers and policy makers following the global financial crisis of 2007-2009. Using a panel dataset of 473 banks in 74 countries from 2007 to 2016 and applying Generalized method of moments (GMM), we find that corporate environment performance (CEP) is negatively related to bank stability which is proxied by non-performing loans (NPL). |
| The globalized system of production and consumption has successfully created a highly unsustainable lifestyle for the global elite. Despite the red flags raised by environmentalists since many decades, the systems have not been able to adapt to prevent climate crisis. This paper attempts to explore the root cause behind this inability while using Hollingsworth framework of institutional analysis. |
| This study aims to define the concept of circular economy and sustainability and explain Islamic value and ethical concepts with regards to prohibiting of waste and encouraging moderation as the vicegerent of this earth. The study illustrates the relationship between the aforementioned values and Circular economy, and shows that these values preceded the emergence of circular economy. |
| The UN’s Sustainable Development Goals (SDGs) require sustainable investments in non- standard projects; however, sustainable investments are impossible without sustainable financing. Banks, as the core providers of bulk financing, face problems in ensuring sustainable financing; however, these problems are more pronounced in the case of Islamic banks since Shariah prohibits offering riskless interest returns on deposits. |
| Despite the large amount of hits on the concepts of Circular Economy (CE), Green Economy (GE), and Sustainable Development (SD), there is a dearth of coherent understanding of the interconnections between these concepts. Although the academicians, practitioners, and policymakers at both national and global levels as key sustainability avenues are currently considering the three concepts, there is a dire need to understand the interconnections between them. |
| Achieving the goal of a circular economy depends on the creation of an economy where the “end-of-life” concept is replaced by the option of getting rid of waste through the superior design of materials, products, systems, and business models. |