Islamic Approach to Environmental Sustainability: Review of Worldview, Philosophy & Teachings
IAIS Conference Proceedings "Islam, Science & Sustainable Development", 2015
15 Pages Posted: 20 Feb 2014 Last revised: 11 Jan 2016
Date Written: October 6, 2015
Abstract
Economic choices influenced by animalistic instincts in an ethically neutral framework have not only resulted in huge disparity in distribution of income, wealth and standard of living, but, as we now realize, it has also resulted in unprecedented loss to ecology and environment with catastrophic consequences for future generations. More than ever, Economics as a discipline of knowledge needs an ethical base to rekindle spiritual rationality that can enable us to take into account equity considerations more explicitly. This paper explains how Islamic economics can help in bridging the gap. Section 1 explains the philosophy of Islamic economics and the role of market mechanism in an Islamic economy. Section 2 explores briefly the environmental issues faced currently and provides a brief literature review. Section 3 discusses the teachings of Islam on different environmental issues and how Islamic teachings can help in encouraging and reinforcing environmental friendly choices and behavior.
Keywords: Environmental Economics, Resource Economics, Welfare Economics, Climate Change, Stern Review, Islamic Economics
JEL Classification: Q2, Q3, Q5, I3
Suggested Citation: Suggested Citation