Year: 2025 | Month: May | Volume: 12 | Issue: 5 | Pages: 208-218
DOI: https://doi.org/10.52403/ijrr.20250525
Integrating Sharia Enterprise Theory in ESG-Based Sustainable Finance: A Case Study from Indonesia’s Agro-Industrial Sector
Novi Wulandari Widiyanti1, Agung Budi Sulistiyo2, Bayu Aprillianto3, Muhammad Miqdad4, Imamatin Listya Putri5
1,2,3,4,5Accounting Program, Economic and Business Faculty, Jember University, Jember, Indonesia.
Corresponding Author: Agung Budi Sulistiyo
ABSTRACT
This paper presents a contextual case study on the integration of Environmental, Social, and Governance (ESG) principles through the lens of Sharia Enterprise Theory at PT Mitratani 27, an agro-industrial firm in East Java, Indonesia. Utilizing qualitative methods, the study explores how Islamic ethical values shape sustainability-oriented financial practices in a real-world corporate setting. Primary data was collected via interviews with key company stakeholders and triangulated with observations and documentation. The findings reveal that the firm embeds faith-based accountability across operational, social, and environmental dimensions, including zero-waste practices, employee empowerment, and community engagement. These results demonstrate that Sharia Enterprise Theory can serve as a viable framework for achieving holistic sustainability in emerging markets
Keywords: sustainable finance, sharia enterprise theory, ESG implementation, islamic corporate governance, agro-industrial sector, faith-based accountability, case study indonesia
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