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In recent years, a growing number of contributions on green finance have emerged, not only within economic geography but also increasingly from disciplines beyond it. With this Special Issue, we aim to engage with the ongoing debate around green and sustainable finance and its challenges, including concerns over greenwashing. Our extended editorial provides structure to this complex discussion by identifying four primary strands of literature that frame the field. Two of these strands adopt a more critical stance, combining analytical approaches and rigorous assessments that question the impact and 'authenticity' of green and sustainable finance schemes, approaches and policies. Most of the contributions and empirical case studies featured here align with these critical perspectives, which are introduced in greater depth in the second part of this editorial. [ABSTRACT FROM AUTHOR]

In this paper, we use the concept of 'alterity' to explore the hallmarks and transformative potential of Community Development Finance Institutions (CDFIs) in the UK consumer credit market. By providing small, short‐term personal loans to individuals on low incomes (i.e. microcredit), these lenders act as an alternative to exploitative forms of subprime lending, which have proliferated as a consequence of cuts in welfare state provision and growing income insecurity. In‐depth interviews (n = 23) were conducted with lenders and stakeholders and a typology of 'alternatives' was developed in relation to the clients of CDFIs and their role in the consumer credit market. Our contribution to knowledge is twofold: We provide a nuanced picture of 'alterity' in finance, finding that CDFIs embody multiple 'alterities' at the same time, and we extend the conversation about alternative and sustainable finance to the consumer credit market, which is an overlooked, yet critical, area. [ABSTRACT FROM AUTHOR]

We employ field theory as an approach to analysing sustainable regional development by reconciling funding needs and funding procurement. Initial expectations that private capital would bridge the financial gap to decarbonize our economies and societies have not materialized. Instead, state‐led coalitions increasingly introduce spatialized decarbonization strategies in which public development banks are pivotal, yet underappreciated, actors. Field theory provides a fresh perspective for mapping the particular context in which regional industrial policies intersect with broader national and supra‐national investment programmes and funding needs for these long‐term initiatives. Transitions are typically directed but open‐ended social processes, necessitating agency to both alter context and institutions and stabilize the emerging new structures. Field theory can surpass limitations in approaches like transition studies and integrate change mechanisms across scales. [ABSTRACT FROM AUTHOR]

Sustainable finance 'thought leaders' call for metrics as the key to aligning investment with sustainability objectives and harnessing the market for 'good'. In this article, we consider how measurement is used in sustainable finance through three case studies of financial instruments described as bonds (green, forest, and impact) and develop Sally Engle Merry's concept of 'indicator literacy' as a contribution to critical geographies of sustainable finance. Through ethnography, we explore how labelling financial products as sustainable (and therefore moral) increasingly relies on claims to achieve measurable outcomes and how attention to spatial and scalar dynamics illuminates what this leaves out. [ABSTRACT FROM AUTHOR]

Sustainable finance (SF) has become a potential financing channel for the manufacturing sector because green finance has intensified the transition financing dilemma for brown sectors. This study investigates whether SF can promote green transition in the manufacturing sector (MT) under this financing dilemma, and the role of green technology innovation (GTI), the technology market (TM), and government guidance (GVG) in such a relationship. Using the data from 30 Chinese provinces from 2011 to 2020, this study first constructs comprehensive evaluation indicator systems for SF and MT and then applies the chain-mediation model and moderated chain-mediation model. The findings show that SF has a significantly positive influence on MT. The influence mechanism demonstrates that GTI-TM is a vital influence channel for SF to promote MT. GVG can moderate the chain-mediation effect of GTI and TM. These findings have important implications for promoting MT through SF. [ABSTRACT FROM AUTHOR]

Sustainable finance is an important part of the water governance landscape that has not received sufficient attention in the water governance and policy literature. In this paper, we approach sustainable finance as a 'non-water' factor that influences water governance situations. Two key water policy objectives in Ontario municipalities provide the focus: water system financial sustainability, and industrial water use reduction. We find that sustainable finance as a sector has significant potential to drive future decision-making around water in municipalities in the context of chronic underfunding and the transition to low-carbon economies. [ABSTRACT FROM AUTHOR]

Attention to environmental, social, and governance (ESG) investing has grown in recent years. Even after the SARS-CoV-2 (COVID-19) global pandemic, there has been a rise in financial instruments that are structured according to certain prescribed "sustainable finance" objectives. From a risk management perspective, and as we continue to see a rise in inflows into such instruments, it is important to appreciate that ESG markets will have a growing influence on our financial system and its development. In light of this, and using a sample of some of the most common and popular US-based ESG index funds, this study explores the extent to which herding behaviors are present in such markets. From a regulatory point of view, such behaviors are important to identify, given that they can lead to excess price volatility, bubbles, and other such market-destabilizing phenomena. In addition, this study builds a framework for exploring whether Twitter-based economic uncertainty, which is arguably a forward-looking indicator of investors' expectations, can exacerbate herding behaviors in ESG markets. Overall, this study shows the following: (i) herding behaviors are present in ESG markets; (ii) rises in Twitter economic uncertainty can potentially exacerbate such herding; (iii) although ESG funds, like traditional asset classes, generally show a negative risk–return tradeoff, this can be driven by changes in Twitter economic uncertainty. [ABSTRACT FROM AUTHOR]

Eric Monnet's European Credit Council (ECC) is an innovative, historically-grounded institutional proposal for supporting the ECB in the design of its monetary policy operations. In this commentary, I seek to strengthen the case for the European Credit Council drawing on work in progress on the history of the ECB. I first discuss the tradition of moderate interventionism as it appears in Monnet's (Monnet, E. (2018). Controlling credit: Central banking and the planned economy in Postwar France, 1948–1973. Cambridge University Press) study Controlling Credit. I show that the model of moderate interventionism was well-known to the drafters of the ECB statutes and efforts to categorically rule such policies out were simply unsuccessful. I suggest that this fortuitous choice has left ample legal space in the EU treaties for an ECC. [ABSTRACT FROM AUTHOR]

In Banque Providence Eric Monnet draws on the history of central banking to investigate the problem of insufficient democratic anchoring of monetary policy. It is a very timely contribution, especially as the choices that the central bankers will face in the near future are bound to get ever more political. This article discusses Monnet's proposals to increase central bank legitimacy through common deliberation of monetary policy authorities and economic policymakers, in particular in relation to EU's credit policy. I draw on the rich literature on interinstitutional accountability to identify conditions for such an EU Credit Council to be fit for purpose. I further identify two specific EU contexts where further deliberation would be particularly called for: the differentiated monetary and internal market (credit) policies and the Green Deal. With regard to the first, I show how an EU Credit Council could help deepen our understanding of the mutual impact of advancing EU banking integration and continued existence of multiple currency regimes. With regard to the second, I discuss clarifications and adjustments needed in the EU legal framework to ensure that further policy coordination on financing the transition within such a Credit Council would facilitate the achievement of EU's sustainability goals. [ABSTRACT FROM AUTHOR]

Research Question/Issue: We examine the effect of multiple environmental, social, and governance (ESG) scores on institutional investor ownership of firms and investor portfolio weightings. We are also the first to analyze the three individual components of ESG rankings to estimate the relative preferences of institutional investors. Research Findings/Insights: Using a unique panel dataset covering US companies and institutional investor portfolios over the 2010–2019 period, we find that while investors are driven to add high‐quality ESG companies to their portfolios, there is a negative relationship with ESG when it comes to taking large ownership stakes. Furthermore, ESG scores are negatively related to the portfolio weightings of institutional investors, which raises concerns of greenwashing. Our analysis of individual ESG scores points to significantly larger effects of G scores in terms of holdings, and G is the only score with no negative impact on portfolio weightings. Finally, in support of systematic stewardship theory, top institutional investors allocate higher proportions of their portfolios to firms with high‐ESG ratings. Our results are robust to the use of a difference‐in‐differences analysis addressing endogeneity concerns. Theoretical/Academic Implications: The findings in this paper offer important policy implications for institutional investors, managers, and policymakers. Given the ongoing debate on ESG scores, this paper shows the importance of examining greenwashing for investors who have a concern regarding the extent to which the valuation of assets might be influenced by unsupported sustainability claims. In addition, our study adds to the debate regarding ESG investing and stewardship theory. [ABSTRACT FROM AUTHOR]

This study aims at making the potential implications of the 'Green' Taxonomy implementation emerge. The EU (European Union) regulatory framework on sustainability-related issues and the regulatory action in the area of non-financial or ESG (environmental, social and governance) reporting have highlighted the need for more academic contributions. There could, indeed, be a risk of oversimplification of an issue that cannot be solved without considering its practical implications on the stakeholders affected. Hence, failing to think these through might result in tragic consequences from a societal standpoint, despite being outstanding from an environmental one. This critical analysis, thus, investigates a few crucial points pertaining to the EU 'Green' Taxonomy—as the latest classification system for environmentally sustainable economic activities proposed by the EU—with the aim of providing academics and policymakers with a balanced report between theory and practice. By means of archival data, content analysis and bibliometric techniques, and implementing the steps of the systematic literature network analysis (SLNA) protocol which were deemed pertinent for the purposes of our study, we conducted a documentary review regarding the EU Taxonomy. Based on this critical analysis, we were able to outline (a) the rationale of Regulation (EU) 2020/852, (b) its structure, (c) its ability to improve corporate environmental performance and (d) the role played by specific nuclear and gas energy activities for a climate-neutral future. Every economic choice implies a cultural choice, and economics—unlike natural sciences—is essentially based on decisions, which can be influenced. The study, thus, concludes with proposals for future research and potential improvements of EU frameworks in order to support an efficient achievement of the Green Deal objectives and the 2030 Agenda. [ABSTRACT FROM AUTHOR]

Green bonds have attracted significant interest in the business and financial sectors, yet the environmental performance outcomes among issuing firms have been uneven. Drawing on the attention‐based view framework, this study examines the role of corporate green bond issuance in directing attention to environmental issues across organizational levels. Additionally, we investigate how internal conditions, such as growth, profitability, and indebtedness, influence the translation of attention into improved environmental performance. Using a matched sample of 160 paired firms from 23 countries and nine sectors, our results emphasize the significance of both green bond intensity and internal conditions in shaping how green bonds impact environmental performance. These results contribute to the fields of sustainable finance and attention‐based view theory, offering new insights into the influence of green bonds on firms' environmental performance. [ABSTRACT FROM AUTHOR]

This scoping review explores the dynamic field of Gender Lens Investing (GLI), examining its evolution from a niche approach to its current status as a widely recognized investment strategy with the potential to contribute to sustainable development and yield social, financial, and economic benefits. This study provides a comprehensive overview of the theoretical foundations of GLI and its practical applications across public equity markets. By conducting research across four major databases, we performed a thematic analysis that identified four principal themes: Benefits and Impacts, GLI Strategies, GLI Instruments and Innovations, and Challenges and Barriers to Implementation. Key findings reveal an increased implementation of GLI in various forms and a gradual increase in publications, reflecting growing interest within academia and industry. Despite these advancements, critical gaps remain in understanding the financial and social impacts of GLI strategies and instruments. While GLI has been broadly defined and implemented, further empirical research is necessary to evaluate the effectiveness of GLI in public equities and its long-term impacts. The limitations of this review include a focus on English-language publications, which might limit the comprehensiveness of the analysis. [ABSTRACT FROM AUTHOR]

The main objective of this study is to understand the value of environmental, social, and governance (ESG) disclosure assurance in the context of the development of sustainable finance standards and laws. This study is based on an analysis of 188 comment letters submitted by such actors in the context of public consultations on the development of three new sustainable finance initiatives (the CFA Institute, the Financial Conduct Authority in the UK, and the New Zealand parliament). The study shows these actors' nuanced and often quite critical perceptions of the effectiveness of external assurance in preventing greenwashing and their reservations about its mandatory nature. These actors have raised various criticisms, including concerns about the vagueness surrounding verification practices; the lack of expertise available to conduct assurance in a new, specialized, and complex field; the costs of the assurance process, particularly for small players; and the lack of control over the reliability of the ESG data used. This article contributes to several emerging trends in the literature—in particular, research on governance practices to prevent greenwashing, on the institutionalization of sustainable finance standards and laws, and on the role of rational myths in the assurance process for ESG disclosures. [ABSTRACT FROM AUTHOR]

Seagrass is an important marine habitat that provides benefits to society in the form of ecosystem services. Services include the provision of food via fisheries, the regulation of water quality and the ability to sequester and store carbon. In the UK, seagrass beds are in decline, increasing the risk of ecosystem service loss. Current efforts to protect, restore and create seagrass habitat, beyond spatial management measures, rely on grant funding and donations. Emerging carbon, biodiversity and wider ecosystem service markets offering potential revenue sources could facilitate the enhancement of seagrass habitat at scale. Participation in ecosystem service markets, requires that projects deliver on the ecosystem service benefits defined. As the benefits will have been paid for, there are risks associated with not delivering on ecosystem service benefits. It is important that the risk is clearly defined. In this study we further the marine natural capital and risk register approach and apply the method to a case study area to support the development of sustainable funding options for seagrass habitat enhancement in Plymouth Sound, UK. Habitat Suitability modelling is also used to map potential areas for seagrass habitat enhancement. We find that, in the Plymouth Sound area, the risk of loss of ecosystem services for subtidal seagrass habitats is, at present, high. This is primarily linked to the declining extent and condition of subtidal seagrass assets. Under current governance, all of Plymouth Sound's subtidal seagrass are within a Marine Protected Area, though this conservation designation does not guarantee that the seagrass bed is protected from damaging activity. Under current environmental conditions there is opportunity for widespread seagrass restoration and creation. Risk to seagrass beds and any future private funding could be reduced by governance actions that enable effective direct protection of the seagrass assets and mitigate harmful pressures (e.g., reduction of water pollution). Emerging financial 'products' from seagrass ecosystem services that can support restoration and creation, require a high degree of integrity. The natural capital asset and risk register framework can provide information to underpin product development. With the development of revenue streams from ecosystem services there is a need for more intentional governance and site-based monitoring of these habitats as natural capital assets. Further research is needed to define any social or economic outcomes. Synthesis and Application: By assessing the risk to the status of seagrass assets through this approach, it is possible to determine the complementary governance actions needed to underpin investment in seagrass habitat enhancement. The methods are transferable to other locations where data exists to define the asset status. These specific findings are relevant nationally where similar vectors of risk (pressures) are identified. [ABSTRACT FROM AUTHOR]

The potentially limiting nature of central bank mandates, together with non-existent standards to assess the impact of climate risks used to inhibit the incorporation of climate change considerations in central bank decisions. This paper analyses how, despite these challenges, climate change risk analysis spread among central banks by examining 941 European financial stability reports of 38 central banks in Europe and their source references. We show that the Dutch and Belgian central banks pioneered significant engagement with climate change risk in financial stability reports, followed by central banks in other Eurozone countries. Then the ECB stepped in, aggregated novel research methods into an accepted analytical framework, and moved to the centre of the stage of the process. Our analysis indicates that various types of proximity played a significant role in the spread of climate friendly central bank mandate interpretations and analytical techniques, but the engagement of a central player was crucial. [ABSTRACT FROM AUTHOR]

Sustainable investing and financing play a central role in achieving sustainable development goals. Using high‐quality articles from the Scopus database, this study deploys bibliometric analysis followed by content analysis on 528 and 33 articles to synthesise the academic literature on sustainable investing and financing published between 2012 and mid‐2022 and analyse the field's evolution and progress in research. The performance analysis identifies the field's most influential studies, and the conceptual and intellectual structures shed light on foundational themes and research progression. An in‐depth content analysis identifies and reveals novel insights on three primary research themes: financing sustainability, asset returns, and sustainable outcomes. The key issues encompass investor motivations and investment performance of sustainable investments compared to conventional investments, challenges, and policy enablers that aid the development of sustainable financing and sustainability outcomes. The study also offers future research directions and concisely summarises research using the theories‐context‐characteristics‐methods framework. The findings will help further theory development in academic research on sustainable investing and financing and have practical implications for investors, issuers, and regulators. Investors can gain insights into the performance of sustainable investments, issuers can understand the benefits of adopting sustainable finance, and regulators can obtain insights into the policy enablers that would result in more efficient outcomes. The limitation of the study is that it is qualitative and does not quantify factors or models that lead to sustainable development. [ABSTRACT FROM AUTHOR]

This paper investigates how investment funds behave in line with European Union (EU)'s Sustainable Finance Disclosure Regulation (SFDR). The SFDR requires investment funds to take a clear position with respect to sustainability objectives, aiming at addressing the threats of greenwashing. However, we still do not know whether investment funds are managed accordingly. We frame our study within the organizational category theory, using Morningstar Direct data to analyze the category of investment funds declaring sustainability objectives – SFDR Article 9– and a control group with no sustainability objectives – SFDR Article 6. We assess how investment managers are financially incentivized to achieve either sustainability or financial objectives. The analysis evidences unexpected results: investment funds that self-select into opposite categories have incentives to behave similarly from both the financial and sustainability perspectives. Our results show that European investment funds hardly distinguish the attributes of sustainability meanings across opposite categories, reflecting category fuzziness. [ABSTRACT FROM AUTHOR]

Amidst increased climatic disasters, persisting social evils, and governance concerns, sustainable finance and its new and innovative financial instruments have gained prominence across stakeholders globally. Green, social sustainability, sustainability‐linked, and transition (collectively GSS+) debt have a market worth USD 3.9 trillion since 2007 (Climate Bonds Initiative, 2018). We provide a comprehensive review of the evolution and future research directions of the sustainable finance research field by analysing overall publication trends, subject categories, co‐authorship networks, keywords, countries and institutions, journal co‐citation, and cluster analysis. Findings include the emergent need for greater collaboration among authors globally. Future research directions include research questions for themes such as carbon emission trading, financial inclusion, reporting of proceeds related to sustainable finance to prevent greenwashing, the impact of climate change and climate finance on sustainable finance, mobilisation of sustainable finance through green bonds, and technological interactions between sustainable finance and blockchain and artificial intelligence. The study also provides implications for the stakeholders. [ABSTRACT FROM AUTHOR]

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Abstract This research aims to initiate academic discussion on the European Union (EU) social taxonomy for the purpose of promoting sustainable economic activities that ultimately contribute to achieving the United Nations’ sustainable development goals (SDGs) in the EU. The paper examines the historical evolution of the social taxonomy concept and presents the chronological order of the regulatory advancements that have paved the way for the establishment of both the EU environmental and social taxonomies. This study emphasizes the role of the EU environmental taxonomy as the frontrunner and highlights three fundamental distinctions between taxonomies in terms of objectives, foundations, and measurability. By defining the key performance indicators applicable to entities engaged in taxonomy-aligned economic activities, the paper offers a tabulated framework to understand the core focus areas, sub-objectives, and types of substantial contributions related to each of the three social objectives outlined in the EU taxonomy. Moreover, this paper aims to emphasize the contemporary challenges and the prospective avenues for future research in the field of social taxonomy.

This paper attempts to identify the challenges and strategies for implementing sustainable finance in Islamic banking and to analyze public opinion on sustainable finance on the Twitter platform using sentiment analysis. The research methods used in this study are the Analytical Network Process (ANP) method to answer the first research objective and the sentiment analysis method, which can assess public opinion based on emotions and sentiments in a particular text to answer the second research objective. The results of the study identified several challenges and priority strategies for implementing sustainable finance in Islamic banks. They identified the sentiment of words that can be used to design communication strategies to create a positive image for the company because it is associated with sustainable finance. This study may contribute to enhancing the implementation of sustainable finance in Islamic banks and better communicating with the public on this matter.

This article discusses one of the most effective methods of financing investments in fixed assets through loans or bonds. The mechanism of green financing is a tool that can attract part of the necessary investments to achieve ambitious goals of the designated strategy. The ESG (environmental, social, governance) agenda has recently become one of the most popular and widely discussed topics in global communities, including financial ones, as any transformation and change in business and economic conjunctures often require a significant amount of investment. The largest number of questions is raised by the E (environmental) component which is responsible for ecology, namely for ensuring decarbonisation of economic and social processes as well as for adapting to the challenges associated with the global energy transition, for protecting and multiplying natural capital, and reducing the harmful human impact on the environment. The article also provides a methodology for calculating the greenium that investors are willing to pay the issuer. The main attention is paid to a detailed analysis of the current state of the green bond market and to the process of forming a greenium in the Russian green finance market which will help investors make informed decisions when choosing investments.

As sustainable finance has entered the mainstream, it has become an area of contestation among civil society, political and business. In response, policy makers seek to resolve stalemates and enhance legitimacy by utilising multistakeholder, consensus-driven approaches to policymaking. In this paper, we examine these emergent ‘cooperative’ structures from a network analytic perspective. Our structural analysis is based on six national and three EU policy spaces. We conduct compositional analyses to explore the makeup of the network(s) and use a range of centrality measures to capture emerging elites. We find an increase in civil society participation in these policy spaces over time; however, financial firms and pro-business voices remain dominant players. We also find a small cluster of elite actors from a range of stakeholder groups. We conclude that the increasing structural balance of stakeholder interests, however, does not translate into power for civil society to alter the direction of policymaking, but appears to serve enhancing the legitimacy of a policy process that departs from the priority and aspirations of civil society organisations.

This research aims to initiate academic discussion on the European Union (EU) social taxonomy for the purpose of promoting sustainable economic activities that ultimately contribute to achieving the United Nations' sustainable development goals (SDGs) in the EU. The paper examines the historical evolution of the social taxonomy concept and presents the chronological order of the regulatory advancements that have paved the way for the establishment of both the EU environmental and social taxonomies. This study emphasizes the role of the EU environmental taxonomy as the frontrunner and highlights three fundamental distinctions between taxonomies in terms of objectives, foundations, and measurability. By defining the key performance indicators applicable to entities engaged in taxonomy-aligned economic activities, the paper offers a tabulated framework to understand the core focus areas, sub-objectives, and types of substantial contributions related to each of the three social objectives outlined in the EU taxonomy. Moreover, this paper aims to emphasize the contemporary challenges and the prospective avenues for future research in the field of social taxonomy. [ABSTRACT FROM AUTHOR]

Credit unions in Latin America play an important role in the financial system, making a significant contribution to the achievement of the Sustainable Development Goals (SDGs) through their focus on financial inclusion, sustainability, and economic resilience. Assessing the social responsibility of these cooperatives ensures ethical, sustainable operations that benefit the population. Unlike traditional financial institutions, cooperatives are based on principles focused on mutual benefit, democratic participation, and responsibility toward their members and the community. This critical literature review, conducted through scientific databases, synthesizes findings on social responsibility in credit unions. The financial system is relevant for global economic stability and growth, comprising institutions like credit unions that facilitate capital flow. It operates through financial instruments, intermediaries, and markets, ensuring efficient resource allocation and risk management. Effective financial management involves planning, organizing, directing, and controlling resources to achieve stability and growth, integrating social responsibility. Credit unions in Latin America highlight cooperative principles, emphasizing member service, community development, and sustainable practices over profit maximization, thereby fostering economic inclusion and ethical business practices. In conclusion, credit unions provide affordable financial services while promoting values of solidarity and equity. However, as entities directly linked to communities, it is essential for them to monitor their actions in terms of social responsibility. This is important to measure and ensure their impact on society and its context. Finally, future research should focus on balancing economic viability with social responsibility, exploring innovative models, governance frameworks, and technological impacts. [ABSTRACT FROM AUTHOR]

The study aims to inquire about the level of understanding of Sustainable Development Goals (SDGs), Sustainable Finance (SF), and Financial Inclusion (FI) among business graduates. The data were collected through a self‐administered questionnaire from 342 business graduates from different universities in a developing country like Pakistan. The findings revealed that the respondents have a no‐to‐low understanding of SF, FI, and the role or importance of these in achieving the 17 SDGs. The findings suggest major revisions in the structure and contents of different business degrees in Pakistan. Overall, the study opens new avenues for research and provides important insights for all the key stakeholders, including universities, higher education institutions (HEIs), the Higher Education Commission (HEC), students, and parents. The study also has social and practical implications for various stakeholders in the HEIs. [ABSTRACT FROM AUTHOR]

Sustainability concerns are increasingly shaping global investment decisions, prioritising sustainable impacts over mere profit-making. This study examines the performance of Environmental, Social, and Governance (ESG) funds in emerging markets, focusing on bull and bear market scenarios. A Markov Regime Switching model was employed to analyse daily price data from BRICS (Brazil, Russia, India, China, and South Africa) ESG market indices spanning from 31 January 2011 to 2 January 2023. The analysis highlights the variability of ESG returns performance across different market conditions, emphasising the need for tailored investment strategies that account for market dynamics. Additionally, patterns in ESG returns and volatility are identified, along with pairwise relationships among ESG markets within the emerging markets bloc. The study also examines the influence of investor sentiments on ESG performance and controlled for the influence of macroeconomic factors on ESG performance amid changing market conditions. Finally, insights into transition probabilities between bullish and bearish market conditions offer guidance for more resilient investment portfolio management. This research contributes to advancing empirical knowledge on ESG investing in emerging markets, emphasising the significance of investor sentiments and market conditions for sustainable investment practices and long-term financial success. [ABSTRACT FROM AUTHOR]