Henrik Johansen
University of Oslo

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ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) CRITERIA IN SHARIA-COMPLIANT STOCK SCREENING: A COMPARATIVE STUDY OF GLOBAL ISLAMIC INDICES Daniyar Satybaldy; Azamat Nazarov; Henrik Johansen; Aryo Prakoso
Sharia Oikonomia Law Journal Vol. 3 No. 4 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/solj.v3i4.2558

Abstract

The convergence of Islamic finance and sustainable investing presents a significant area of interest, driven by shared ethical principles. However, the extent to which Environmental, Social, and Governance (ESG) criteria are formally integrated into sharia-compliant stock screening remains unclear across global indices. This study aims to comparatively analyze the methodologies of leading global Islamic stock indices to determine the scope and nature of ESG integration within their sharia screening frameworks. A qualitative comparative analysis was conducted on the methodology documents of major indices, including MSCI, FTSE, S&P, and Dow Jones Islamic Markets. The findings reveal significant heterogeneity. While all indices inherently cover certain social and governance aspects through traditional sharia screening (e.g., excluding sin stocks, debt limits), explicit and comprehensive ESG frameworks are not uniformly applied. Environmental criteria, in particular, are often not systematically integrated. The study concludes that while a natural alignment between sharia principles and ESG values exists, the formal integration of ESG criteria into global Islamic indices is still nascent and inconsistent. This highlights an opportunity to develop a more holistic screening framework that explicitly combines both ethical paradigms, enhancing the appeal of Islamic finance to sustainable investors.
Media Representation and Social Reality Critical Perspectives on Power, Identity, and Communication Petrus Jacob Pattiasina; Henrik Johansen; Caroline Eide
Journal of Humanities Research Sustainability Vol. 3 No. 4 (2026)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/jhrs.v3i4.4320

Abstract

Background. Media plays a central role in shaping public perception, constructing social realities, and influencing individual and collective identities. Through selective representation of power, culture, and ideology, media platforms contribute to the framing of social issues and the construction of dominant narratives. In today’s interconnected world, the study of media representation has become increasingly crucial for understanding the social, political, and cultural dynamics that inform our daily lives. Purpose. This study aims to critically examine how media representation influences social reality, with a particular focus on issues of power, identity, and communication. It seeks to explore the ways in which media perpetuates or challenges social norms, constructs identities, and shapes power dynamics in society. The research also investigates the role of media in reinforcing or subverting dominant ideologies. Method. A qualitative, critical discourse analysis was employed to examine a variety of media sources, including news broadcasts, films, social media, and advertisements. The analysis focuses on identifying recurring themes and representations of power, identity, and communication across different media platforms. Results. The study finds that media representation often reinforces existing power structures and ideologies, yet it also offers spaces for resistance and subversion. The representation of marginalized groups is particularly significant in understanding how media constructs social identities and influences public perception. Conclusion. The research concludes that media is a powerful tool in shaping social reality and identity. It plays a pivotal role in both reflecting and shaping the ideologies that govern society. This study calls for a more critical engagement with media representation, particularly in relation to issues of power and identity.