Sustainable development has emerged as a global imperative, with the rapid adoption of the Environmental, Social, and Governance (ESG) framework reflecting this trend. In the context of digital transformation, this study aims to investigate the impact of ESG performance on corporate value, while also examining the moderating and mediating roles of digital transformation and green innovation within this relationship. Utilizing annual data from A-share listed companies on the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) spanning the years 2018 to 2022, this research encompasses a total of 17,940 observations. Given China’s commitment to sustainable, high-quality development, this study underscores the critical importance of advancing ESG principles alongside corporate digital transformation. Empirical analysis reveals that ESG performance significantly enhances firm value, with digital transformation serving as a positive moderator that amplifies the impact of ESG performance on firm value primarily through the enhancement of firms’ green technology innovation capabilities. These findings contribute to a deeper understanding of the interaction between ESG initiatives and firm value, particularly amidst ongoing digital advancements. Consequently, this paper recommends that governments enhance corporate ESG performance through a combination of incentive and penalty mechanisms, establish a comprehensive ESG rating system, and optimize the policy framework for digital transformation. Moreover, enterprises should foster awareness of green innovation, refine their governance structures, accelerate digital transformation efforts, and promote the application of digital technologies and information sharing across various domains to achieve sustainable development and enhance competitiveness.

This paper aims to develop a holistic framework for the Maqasid al-Shariah in Responsible Investment (MSRI) index for selected publicly listed companies in the Malaysian capital market. To test the validity of the MSRI framework, a sample of 30 publicly listed companies from 2021 was selected using purposive sampling. The framework consists of eight themes with forty-five elements to evaluate companies based on their annual reports, sustainability reports, and public disclosures. The scores are classified into three categories: Shariah compliant, Shariah non-compliant, and Hajiyyat. Out of the 30 selected companies, the summary of MSRI scores concludes that twenty (20) companies were identified as Shariah compliant, while the remaining four (4) were classified as Shariah non-compliant, and six (6) as Hajiyyat. Overall, the results of the analyses show that the sustainability of the company and society has a higher percentage than the wealth preservation of companies. This research differs substantially from prior work by offering a novel approach that develops a holistic framework integrating Maqasid al-Shariah with elements of responsible investment. This study believes it can provide valuable guidance for formulating Islamic investment public policy for selected investment portfolios.

Introduction: The growing global focus on Environmental, Social, and Governance (ESG) standards necessitates that companies optimize their corporate governance to balance economic, social, and ecological responsibilities. This study examines how the synergistic effects of Corporate Social Responsibility (CSR) and Environmental Responsibility (ER) can promote sustainable corporate development. Objective: The objective of this study is to analyze the critical elements of corporate governance structure optimization and to explore how companies can enhance their governance to achieve sustainable development through strengthened social and environmental management practices. Methods: The study uses case analysis and literature review to assess high-performing enterprises in CSR and ER integration, examining their governance, policy, and environmental strategies to uncover the factors behind their success in economic, social, and environmental spheres. Results: The research shows that optimizing governance structures markedly improves operational effectiveness. Companies need to create strong internal controls for equitable and transparent decisions, embedding CSR and ER into their strategies. CSR fulfillment builds public trust and environmental support, whereas ER improves brand reputation and competitiveness, driving sustainable and mutually advantageous development. Conclusion: The key to sustainable development in ESG practice lies in optimizing corporate governance and strengthening the synergy between social and environmental responsibilities. It is imperative for companies to build a governance structure that complies with ESG standards and to incorporate social and environmental considerations into their corporate strategies to effectively manage the triple bottom line of economic, social, and environmental performance.

Lately, there is a progressive assimilation of sustainable and green development principles into the collective conscience of individuals. Companies have received considerable attention from all sectors of life when it comes to the environment, society and governance (ESG). This study uses a bidirectional fixed effects model to investigate the influence and the mechanism of green innovation on company ESG information, using a research sample composed of data from the A-share listed companies in China spanning the period from 2011 to 2021. The findings indicated that green innovation exerted a substantial positive influence on ESG information disclosure, and the effect was more substantial, especially in mature and declining companies. Financing constraints and analysts’ attention played a mediating role between green innovation and ESG information disclosure. The results of heterogeneity analysis showed that green innovation played a more significant role in promoting ESG information disclosure among state-owned companies, large-scale companies, manufacturing companies and heavy pollution companies. Furthermore, implementing green development policies had facilitated the reinforcement of the promotion impact of ESG information disclosure through green innovation. Additionally, the instrumental variable method was employed to conduct a robustness test. This study enhances the understanding of the theoretical framework about green innovation and the disclosure of ESG information, and offers valuable insights for advancing the sustainable development of companies.

This study aimed to examine the impact of Environmental, Social, and Corporate Governance (ESG) scores and Country Governance Indicators (CGI) on companies’ value. The study procedures were carried out by creating a linear empirical model where the dependent variable was companies’ value. In addition, the variables of interest in the model were ESG scores and CGI. Analysis was carried out on annual data from 278 non-financial Asian companies spanning 11 years from 2011–2021. The feasible generalized least squares (FGLS) method was used for estimation due to the presence of serial correlation and heteroscedasticity in the data obtained. The results showed the presence of a positive relationship and correlation between ESG scores and companies’ value. Meanwhile, CGI had a negative impact, revealing the potential difficulties caused by country governance framework. This study also found a positive correlation between CGI and ESG on company value. These findings have important practical contributions emphasizing the significance of ESG factors in improving companies’ value and the complex relationship between country governance and corporate valuation.