TATA KELOLA PERUSAHAAN DAN KINERJA LINGKUNGAN PADA LEMBAGA KEUANGAN SYARIAH: PERAN MODERASI KEAHLIAN DEWAN PENGAWAS SYARIAH

Siti Maryam; Putri Depiana

doi:10.65802/mukhtasab.v2i3.242

Authors

Siti Maryam Universitas Satya Negara Indonesia
Putri Depiana Universitas Islam Negeri Ar-Raniry, Banda Aceh

DOI:

https://doi.org/10.65802/mukhtasab.v2i3.242

Keywords:

Corporate Governance, Environmental Performance, Sharia Supervisory Board, Panel Data Regression

Abstract

Sharia Financial Institutions (SFIs) are required not only to pursue financial profitability but also to apply principles of sustainability and environmental ethics based on Islamic values (Maqasid Shariah). This study aims to analyze the influence of Corporate Governance on Environmental Performance in Sharia Financial Institutions, as well as to examine the moderating role of the expertise of the Sharia Supervisory Board (DPS). This study employs a quantitative approach based on secondary data in the form of annual reports and sustainability reports from 45 Sharia Commercial Banks and Sharia Insurance Companies in Southeast Asia during the 2018–2024 period. The data analysis technique uses Panel Data Regression with a Fixed Effects Model (FEM) approach. The results indicate that Governance Transparency and the Sustainability Index have a positive and significant impact on the environmental performance of Sharia Financial Institutions (LKS). Furthermore, the expertise of the DPS particularly their dual expertise in Sharia law and environmental science/sustainable finance was found to significantly moderate and strengthen the relationship between corporate governance and environmental performance. These findings underscore the importance of strengthening DPS competencies beyond the field of classical muamalah fiqh to promote the transition of Islamic financial institutions toward a green economy.

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