From ESG to Maqasid al-Shariah: A Systematic Literature Review on the Emerging Direction of Islamic Sustainability Accounting
Keywords:
ESG; Maqasid al-Shariah; Sustainability Accounting; Islamic Financial Institutions; Systematic Literature ReviewAbstract
This study aims to systematically review and synthesize the development of the literature on the integration of Environmental, Social, and Governance (ESG) and Maq??id al-Syar?'ah in the sustainability accounting of Islamic financial institutions. The main problem of this study lies in the dominance of the ESG framework in the global sustainability discourse which has not fully accommodated the normative dimensions and benefit goals that are the core of Islamic finance. This study uses a systematic literature review approach with reference to the PRISMA 2020 guidelines. The data source was obtained from articles from reputable international journals indexed by Scopus and Web of Science in the period 2020-2025. A total of 28 selected articles were analyzed using bibliometric and narrative analysis techniques with the help of the VOSviewer device to map patterns of conceptual relationships, temporal trends, and density of research themes. The results show that ESG has become the dominant framework in the sustainability study of Islamic financial institutions, while Maq??id al-Shar?'ah is still in a peripheral position and has not been operationally integrated in the measurement of sustainability performance. These findings indicate a conceptual gap between formal compliance with ESG standards and the ethical substance of Islamic finance. This study concludes that the integration of ESG and Maq??id al-Syar?'ah is necessary to develop sharia sustainability accounting that is more holistic, contextual, and goal-oriented.
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