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Navigating the Terrain of Sustainable Finance: A Phenomenological and Narrative Enquiry into Managerial Challenges

Author

Listed:
  • Abdelaziz Al Owais

    (PhD Candidate, The British University in Dubai, Dubai, United Arab Emirates; & Senior Economist, Department of Statistics and Community Development, Sharjah, United Arab Emirates)

  • Robinson Joseph

    (Faculty of Business, Skyline University College, Sharjah, United Arab Emirates)

Abstract

This research aims to identify the managers’ perspective on implementing and adopting sustainable financing models in Dubai. Firstly, Sustainable financing must be defined to differentiate the sustainable model from the traditional financing models, secondly, provide past implementation practices to investigate both external and internal factors in comparison with traditional finance (TF). Finally, record the manager’s feelings around this topic. The methodology used is a primary qualitative to dig deeper into understanding from past literature and identify managerial participants from Dubai concerning the implementation of sustainable financing. The paper developed findings that defined the link or difference between sustainable financing (SF) and traditional finance (TF). The propositions in the qualitative literature from studies entail that the UN SGDs heavily influence sustainable financing to adopt ESG practices. However, greenwashing, high costs and ambiguity discourage investors and managers from integrating SF efficiently and indicate challenges to SF implementation. The study implies that the Sustainable Financing model is extremely like the traditional financing model except for the ESG compliance. However, regarding management and operations, the system does not differ much. It is evident that Sustainable Financing standardization is a challenge the managers face.

Suggested Citation

  • Abdelaziz Al Owais & Robinson Joseph, 2024. "Navigating the Terrain of Sustainable Finance: A Phenomenological and Narrative Enquiry into Managerial Challenges," International Journal of Economics and Financial Issues, Econjournals, vol. 14(6), pages 291-301, October.
    • Handle: RePEc:eco:journ1:2024-06-32
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    References listed on IDEAS

    as
    1. Abidah B. Setyowati, 2023. "Governing sustainable finance: insights from Indonesia," Climate Policy, Taylor & Francis Journals, vol. 23(1), pages 108-121, January.
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    3. Chantal Line Carpentier & Hannah Braun, 2020. "Agenda 2030 for Sustainable Development: A powerful global framework," Journal of the International Council for Small Business, Taylor & Francis Journals, vol. 1(1), pages 14-23, January.
    4. Sangiorgi, Ivan & Schopohl, Lisa, 2023. "Explaining green bond issuance using survey evidence: Beyond the greenium," The British Accounting Review, Elsevier, vol. 55(1).
    5. Marco Migliorelli, 2021. "What Do We Mean by Sustainable Finance? Assessing Existing Frameworks and Policy Risks," Post-Print hal-03476960, HAL.
    6. Abdelaziz Al Owais & Robinson Joseph, 2024. "Navigating the Terrain of Sustainable Finance: A Phenomenological and Narrative Enquiry into Managerial Challenges," International Journal of Economics and Financial Issues, Econjournals, vol. 14(6), pages 291-301, October.
    7. Marco Migliorelli, 2021. "What Do We Mean by Sustainable Finance? Assessing Existing Frameworks and Policy Risks," Sustainability, MDPI, vol. 13(2), pages 1-17, January.
    8. Yi-Chun Kuo & Yueh-Hsia Huang & Lan Sun & Garrick Small & Shih-Jung Lin, 2023. "Identifying key factors of sustainability practice in financial institutions based on decision-making trial and evaluation laboratory method," Asian Review of Accounting, Emerald Group Publishing Limited, vol. 31(5), pages 661-679, May.
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    Cited by:

    1. Abdelaziz Al Owais & Robinson Joseph, 2024. "Navigating the Terrain of Sustainable Finance: A Phenomenological and Narrative Enquiry into Managerial Challenges," International Journal of Economics and Financial Issues, Econjournals, vol. 14(6), pages 291-301, October.

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    More about this item

    Keywords

    Sustainable; Finance; UN SGDs; Environmental Social Governance and Management;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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