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Sustainability Committees and Environmental Initiatives: Insights from Dual Banking Systems in Emerging Markets

Journal of Islamic Monetary Economics and Finance · Vol. 12 No. 3 (2026) · hlm. 545–578

DOI
10.21098/jimf.v12i3.3271
ISSN
2460-6618, 2460-6146
Terbit
2026-08-31
Penerbit
Bank Indonesia
Bahasa
eng
Lisensi
creativecommons.org/licenses/by-nc/4.0

Abstrak

Recently, companies have become more concerned with environmental sustainability, and many of them have established sustainability committees (SCs) to entrench sustainability in their strategic planning and corporate culture. Drawing upon insights from stakeholder and legitimacy theories, this study investigates the nexus between SCs and environmental initiatives (EI) in emerging markets having both conventional and Islamic banks. Applying panel regressions, we find evidence indicates that the presence of an SC is positively associated with overall environmental scores, environmental products, environmental innovations, and resource reduction. Subsample analyses reveal that, for IBs, establishing SCs significantly affects overall environmental and resource reduction scores, suggesting that SCs in IBs may primarily drive symbolic (e.g., overall environmental and resource reduction scores) rather than substantive environmental efforts (e.g., environmentally-friendly products and innovations). In contrast, SC establishment shows a significant effect across all four dimensions of EI for conventional banks (CBs), underscoring its more comprehensive role in shaping environmental outcomes within CBs. These findings have important theoretical, practical, and policy implications for bank managers, regulators, and other key stakeholders.

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8 penulis · 11 tautan kepenulisan bersama · 7 lintas organisasi

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  • Islamic University of Indonesia
  • University of Brawijaya
  • Indonesia University of Education
  • University of Sheffield
  • Yarsi University
  • Organisasi berbeda
  • Organisasi sama
  • Afiliasi tidak diketahui
  • Garis lebih tebal = lebih banyak artikel bersama · lingkaran lebih besar = lebih banyak artikel
Tampilkan sebagai tabel
Rekan penulisOrganisasiArtikel bersama
Faaza FakhrunnasIslamic University of Indonesia2
Intan Tri AnnisaYarsi University1
MB Hendrie AntoIslamic University of Indonesia1
Indri SuprianiUniversity of Brawijaya1
Nayaka Artha WicesaUniversity of Brawijaya1

Afiliasi berasal dari OpenAlex; metadata OAI-PMH jurnal tidak memuatnya. Penulis tanpa ID OpenAlex dicocokkan berdasarkan nama, sehingga dua orang bisa tergabung atau satu orang bisa terpisah.

Sumber metadata: OAI-PMH (metadata jurnal) http://www.jimf-bi.org/index.php/JIMF/oai, pertama di-harvest 9 Nov 2026, terakhir terlihat 9 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">Sustainability Committees and Environmental Initiatives: Insights from Dual Banking Systems in Emerging Markets</dc:title>
	<dc:creator xml:lang="en">Tumewang, Yunice Karina</dc:creator>
	<dc:creator xml:lang="en">Al Adawiyah, Rumaisah Azizah</dc:creator>
	<dc:creator xml:lang="en">Ayunda, Kemala Putri</dc:creator>
	<dc:subject xml:lang="en">Sustainability committee, Environmental initiatives, Emerging markets, Dual banking systems, Islamic banks.</dc:subject>
	<dc:description xml:lang="en">Recently, companies have become more concerned with environmental sustainability, and many of them have established sustainability committees (SCs) to entrench sustainability in their strategic planning and corporate culture. Drawing upon insights from stakeholder and legitimacy theories, this study investigates the nexus between SCs and environmental initiatives (EI) in emerging markets having both conventional and Islamic banks. Applying panel regressions, we find evidence indicates that the presence of an SC is positively associated with overall environmental scores, environmental products, environmental innovations, and resource reduction. Subsample analyses reveal that, for IBs, establishing SCs significantly affects overall environmental and resource reduction scores, suggesting that SCs in IBs may primarily drive symbolic (e.g., overall environmental and resource reduction scores) rather than substantive environmental efforts (e.g., environmentally-friendly products and innovations). In contrast, SC establishment shows a significant effect across all four dimensions of EI for conventional banks (CBs), underscoring its more comprehensive role in shaping environmental outcomes within CBs. These findings have important theoretical, practical, and policy implications for bank managers, regulators, and other key stakeholders.</dc:description>
	<dc:publisher xml:lang="en">Bank Indonesia</dc:publisher>
	<dc:date>2026-08-31</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://jimf-bi.org/JIMF/article/view/3271</dc:identifier>
	<dc:identifier>10.21098/jimf.v12i3.3271</dc:identifier>
	<dc:source xml:lang="en">Journal of Islamic Monetary Economics and Finance; Vol. 12 No. 3 (2026); 545-578</dc:source>
	<dc:source>2460-6618</dc:source>
	<dc:source>2460-6146</dc:source>
	<dc:source>10.21098/jimf.v12i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://jimf-bi.org/JIMF/article/view/3271/1048</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2026 Journal of Islamic Monetary Economics and Finance</dc:rights>
	<dc:rights xml:lang="en">http://creativecommons.org/licenses/by-nc/4.0</dc:rights>
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