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Slow adoption of ESG due to data scarcity
22 Mar 2022 | Tuesday The Edge Markets
The lack of data is one of the main reasons for the slow adoption of environmental, social and governance (ESG) principles among Islamic finance institutions.
Responsible Finance and Investment Foundation (RFI) chief executive officer Blake Goud said there is a need for players to take the first step.
Speaking at the Maybank Islamic Bhd’s virtual Global Connect Forum, he said these important first steps would “further stimulate more demand for data” and thus catalysing more data collection.
Meanwhile, Stella Cox, managing director of DDCAP Group — a leading provider of capital market intermediary services and related technology solutions to Islamic financial market institutions — said there is a need for collaborations in order to give the players a more holistic view in respect of ESG.
