A Joint Study On The Value of Combining ESG Data and Islamic Investment Screens by RFI Foundation and INCEIF

1 Dec, 2021 – The Responsible Finance & Investment Foundation (RFI) released today a detailed quantitative study based on 20 years of data confirming the value of combining environmental, social and governance (ESG) data and Islamic investment screens.  The study, conducted by RFI Foundation and INCEIF, found that Islamic screens did not create any systematic performance penalty for investors, and can be complementary to ESG screening practices.

In a Press release, RFI said the findings of the research identified differences in the way that ESG and Shariah screening complemented one another in different time periods and across different geographical regions, enhancing the research conclusions’ relevance to investors who were purely focused on responsible investment. It also provided evidence that the screens used in Islamic investing could enhance investors’ returns in specific conditions that were likely to be important to many responsible investments.

The research is available for download at https://www.rfi-foundation.org/research

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