Sustainable Business

The Sustainable Business research cluster is an interdisciplinary initiative dedicated to advancing sustainability through collaborative research and partnerships. We are committed to exploring diverse issues of sustainability pertinent to us today, including but not limited to Environmental, Social and Governance (ESG), energy and climate change.

Our overarching objective is to invigorate and facilitate collaborative, cross-disciplinary research endeavours by Monash faculty whilst fostering effective partnerships with external leaders and institutions. We achieve this through research, conferences and workshops on sustainability; we also provide support to graduate students conducting research on sustainability-related issues.

The Sustainable Business cluster’s research areas are diverse in nature, reflecting the many sectors of business and society that are increasingly recognising the need for and embracing sustainable practices. From climate change law to corporate governance and socially responsible management practices, research opportunities are vast and hold significant potential as we strive towards a more sustainable world. Our current topics of research include:
- ESG
- Energy Justice
- Forest Carbon Activities
- Green Consumption
- Sustainability Finance
In line with our commitment to sustainable business, the School of Business builds strong partnerships with key leaders and organisations amongst industry, government and regulatory bodies. We organise roundtable discussions, workshops, symposiums and accelerator programs involving industry and other stakeholders.
We are currently partnering with esteemed organisations such as CPA Australia and United Nations Global Compact Malaysia and Brunei. UN Global Compact is a non-binding United Nations pact for businesses and firms worldwide to adopt sustainable and socially responsible policies, and to provide implementation reports.
On the local front, our partnership with the Malaysian Bar Council involves co-organizing symposiums to discuss the feasibility of legal reforms suggested by our academics in their research papers and how these reforms can be best implemented. We are also collaborating with Alliance Bank on an exciting research project analysing the integration of ESG practices in small to medium enterprises in Malaysia.
Karim R (2023) Prospects and challenges of Islamic finance instruments for low-carbon energy transitions: a legal analysis from an energy justice perspective. Journal of Energy and Natural Resources Law, 41(2), 195-209.
Ewe, S. Y., Tjiptono F. (2023) Green behaviour among Gen Z consumers in an emerging market: eco-friendly versus non-eco-friendly products, Young Consumers, Vol. 24, No. 2, pp. 234-252.
Asiaei, K., Oconnor, N., Barani, O., Joshi, M. (2023). Green intellectual capital and ambidextrous green innovation: The impact on environmental performance. Business Strategy and the Environment, 32 (1), 369-386.
Guglyuvatyy E (2022) Climate Change, Forests and Federalism: Australian experience Springer Nature (Singapore).
Rassiah, P., Mohd Nasir, N., Khan, G., Munir, S. A. (2022). Stakeholder salience and environmental stewardship among hotels in Malaysia. Sustainability Accounting, Management and Policy Journal, 13(5), 1201-1228.
Keng Lin Soh & Wai Peng Wong (2021). Circular economy transition: Exploiting innovative eco-design capabilities and customer involvement. Journal of Cleaner Production, 128858320.

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Sustainable Business

Formulating a Comprehensive Legal Framework for Blockchain Technology in the Energy Industry of Malaysia
Grant Awarded:
Fundamental Research Grant Scheme 2023, Ministry of Higher Education Malaysia
Project Description:
In Malaysia, the adoption of blockchain technology in the energy industry is on the rise, with notable projects including Power Ledger and Energo Labs, both of which facilitate peer-to-peer energy trading among consumers. However, the lack of clear regulations governing the use of blockchain technology has raised concerns over legal uncertainties, potential liabilities and data privacy for businesses who adopt the technology.
Our research seeks to formulate a legal framework to assist in the standardisation of peer-to-peer energy in Malaysia (in line with UN Sustainable Development Goal 7 on promoting universal access to sustainable and affordable modern energy systems). Through qualitative research methods, including semi-structured interviews with industry professionals, academics, government employees, and legal experts, we will highlight opportunities and challenges of blockchain integration, and pave the way for a comprehensive legal framework.
MUM Researchers:
Dr Ridoan Karim (PI)
Prof Nafis Alam
A/Prof Manjeevan Seera,
A/Prof Adnan Trakic

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