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Despite the growing emphasis on sustainability and the need to manage environmental, social, and governance (ESG) risks, the direct relationship between enterprise risk management (ERM) and green growth (GG) has not been investigated. This study seeks to fill this gap by examining the effect of ERM on the GG of oil and gas (O&G) companies in Malaysia.

The study used panel data regression models to analyze panel data from 2012 to 2021. For computing GG, we adapted the Organization for Economic Cooperation and Development’s (OECD) GG framework. ERM is computed using COSO and WBCSD guidelines for ESG-related risks. Weighted content analysis is used to measure ERM and GG

The findings derived from the content and descriptive statistics analyses indicate a consistent and ongoing rise in the adoption of ERM practices over time. However, some companies are still in the initial stages of incorporating ERM to address ESG risks. The study’s findings unequivocally establish a substantial and positive relationship between ERM and GG. ERM drives GG by significantly influencing its environmental and resource productivity dimensions. The study further reveals that the impact of ERM on economic opportunities and policy responses, as well as the natural asset base, is statistically significant, albeit with relatively lower coefficient values.

To enhance the legitimacy of organizations and foster positive stakeholder relationships, regulators, governments, and policymakers should actively promote the adoption of ERM standards that specifically address ESG risks, as outlined by COSO and WBCSD. This strategic alignment with risk management practices will ultimately contribute to improving green growth for organizations.

To the best of the authors' knowledge, this is the first study examining ERM’s effect on GG. The study adds to the existing literature by focusing on ERM’s role in a company’s GG. It clarifies ERM’s significant effect on diminishing emerging ESG risks and advancing GG

Sustainability is essential to the ongoing operations of banks, though it is much less clear how Islamic corporate governance (ICG) promotes economic sustainability (ES) and thereby prevents bankruptcy. To explore the unexplored, this study aims to examine the efficacy of ICG in preventing bankruptcy and enhancing the ES of Islamic banks operating in Pakistan.

The current study measures ES through Altman's Z-score to analyze the level of the industry's stability and consequently examines the effect of ICG on the ES of Islamic banks in Pakistan for the post-financial-crises period. Using the country-level data, this study utilized a fixed-effect model and two-stage least squares (2SLS) techniques on balanced panel data spanning from 2009 to 2020 to provide empirical evidence.

The empirical results unveiled that board size and meetings have a significant positive influence on the ES while managerial ownership demonstrated an unfavorable effect on ES. Interestingly, the insignificant effect of women directors became significant with the inclusion of controlled variables. Overall, the findings indicate that ICG is an efficient tool for promoting ES in Islamic banks and preventing them from the negative effects of emerging crises.

The findings provide concrete insights for policymakers, regulators and other concerned stakeholders to execute a sturdy corporate governance system that not only oversees the economic, social and ethical aspects but also provides measures to alleviate the impacts of potential risks like the COVID-19 pandemic.

Examining the role of ICG in alleviating bankruptcy risk is an informative and useful endeavor for all social actors.

To the best of the authors’ knowledge, this study is one of the first efforts to provide evidence-based insights on the role of ICG in preventing bankruptcy and offers a potential research direction for ES.

This study aims to analyse how cultural and religious values shape individual attitudes towards responsible consumption (RC), with a particular emphasis on contrasting Abrahamic and non-Abrahamic countries. The objective was to find out how adherence to religious beliefs could drive sustainable behaviours as a sure way to achieve sustainable development goals, among them RC and production.

The research classifies countries into Abrahamic and non-Abrahamic based on data derived from World Values Surveys from 1980 to 2020. To find out the effect of religious and cultural values on RC behaviours, the authors use a logistic regression model by controlling the sociodemographic variables country, denomination and town size.

The findings determined that in Abrahamic countries, high adherence to religious teachings is strongly correlated with positive RC behaviours. In most non-Abrahamic countries, however, while the strength of the effect of cultural values on RC is somewhat diminished, there is potential for a positive shift insofar as the central doctrines of the respective faiths will be adopted more actively by their adherents.

While this study provides valuable insights into the influence of cultural and religious values on RC, it is limited by its reliance on cross-sectional data, which restricts the ability to infer causality. Future research could benefit from longitudinal studies to track changes over time or experimental designs to test causality more directly. Additionally, the study’s focus on broad religious categories may overlook the nuanced differences within each religious group, suggesting a need for more detailed subgroup analyses.

The practical implications of such findings lie in the fact that marketers have to design campaigns that relate to the cultural and religious ethos of their target audiences. Therefore, marketing strategies locally practised bring effectiveness in running initiatives meant to be taken for sustainable consumption practices, to develop brand loyalty and to support corporate environmental and social responsibility.

By aligning consumption practices with religious teachings, communities can foster a collective sense of purpose and ethical responsibility. This alignment not only enhances social cohesion but also supports broader social goals such as environmental sustainability and economic moderation. Moreover, by encouraging values like thrift and stewardship, societies can mitigate the adverse effects of consumerism, such as waste and environmental degradation, thus improving the quality of life and fostering a more sustainable future.

This paper is going to add to the existing literature by identifying how religious teachings can be pivotal for the sustainability of modern times. Its findings provide new insight for policymakers and marketers who are seeking to encourage RC in cultures.