Several measures have been taken to reduce the impact of COVID-19 pandemic. One of these measures is the broad digital transformation that has rapidly and unexpectedly forced the deployment of digital technologies into corporations’ business models and organizational structures. This digital transformation has affected all the socio-economic aspects. In response to the COVID-19 global pandemic, this paper explores the impact of the implementation of digital transformation on the socio-economic recovery by employing cross-sectional regression analysis on 99 countries in year 2020. The paper analyzes the impact of digital transformation on each of economic growth, health care, and income inequality. The results reveal that the digital transformation has a positive and significant impact on the GDP per capita in which a 1% increase in digital transformation results in 1.52% increase in GDP per capita, a positive and significant impact on income equality in which a 1% increase in digital transformation leads to 0.05% increase in income equality, and a negative and significant impact on infant mortality rate, in which a 1% increase in digital transformation results in 0.85% decrease in infant mortality rate which reflects its positive impact on the health care. Hence, the digital transformation has a positive and significant effects on different socio-economic aspects.

The digital transformation in the energy sector has the potential to change the energy consumption patterns. The adoption of smart energy technologies is not always yielding positive impact on the energy consumption patterns which is highly determinant by the end-users’ behavior. The adoption of energy digitalization and enabling users to easily trace peak consumptions can trigger the motive to conserve energy. However, the prevalence of rebound backfire effect induced by the cost reduction accompanied by the enhanced energy efficiency is probable. This study examines the impact of energy digitalization in a sample of 29 developed countries by utilizing the OLS panel regression model with fixed-effect estimation during the period 1991-2021. The results confirmed the existence of a positive impact where an increase in the energy R&D by 1% yields an increase in energy consumption by 0.0039%. Despite of the limited size of potential rebound, it should be considered critically to avoid undesired policy consequences.

Environmental degradation, driven by industrialization and population growth, has emerged as a critical global challenge, disproportionately impacting the most vulnerable communities. A significant factor contributing to this issue is the rapid rise in greenhouse gas emissions, particularly Carbon Dioxide (CO2), which accelerates climate change and its widespread effects. Simultaneously, Fossil Fuel Subsidies (FFS), initially introduced to enhance energy access and stimulate economic growth, have faced growing criticism for distorting markets, slowing the transition to renewable energy, and deepening environmental and social inequalities. Hence, addressing these challenges requires urgent action to reform FFS and reduce CO2 emissions, which are pivotal to achieving the United Nations Sustainable Development Goals (SDGs), especially affordable and clean energy (SDG 7) and climate action (SDG13). The present study conducts a multiple regression model by using the Estimated Generalized Least Squares (EGLS) method across 37 countries from 2010 to 2022. It aims to analyze the impact of environmental degradation captured by FFS and CO2 emissions on sustainable development (SD). In addition, it studies the moderating role of CO2 emissions in affecting the relationship between FFS and SD. The results show that the FFS has a positive and significant impact on SD, while CO2 emissions has a negative and significant impact on SD. In the meantime, the interaction term of the FFS and CO2 emissions has a negative and significant impact on SD. This indicates that CO2 emissions is moderating the relationship between FFS and SD by altering its impact on SD.

Islamic finance represents one of the most rapidly expanding domains within the global financial sector. An increasing research interest in the intersection of Islamic finance and sustainable development opens new horizons in search for economically viable and socially responsible solutions to achieve the United Nations Sustainable Development Goals (SDGs). With the introduction of SDGs in 2015, Islamic finance has re-emerged as an alternative mode of financing sustainable development with its principles of supporting the real economy by backing every transaction with underlying assets and ensuring social impact. Despite a growing body of literature on the correlation of Islamic finance and SDGs as well as on Sustainable Islamic finance, there is a significant knowledge gap concerning Islamic financial instruments. The purpose of this study is to analyze the alignment between Islamic finance and its working instruments in enhancing the achievement of the SDGs. The study employs a comprehensive literature review and thematic analysis to assess this alignment, as well as statistical data analysis. This study makes a novel contribution by systematically mapping a broad range of Islamic financial instruments – including zakat, waqf, sadaqa/infaq, qard al-hasan, sukuk, musharakah and mudarabah and Islamic microfinance – against specific Sustainable Development Goals (SDGs). These instruments hold great potential as viable tools in achieving the SDGs across various sectors, particularly in developing countries, where financial inclusion and ethical investment practices can significantly contribute to social welfare and economic stability. The scientific significance of the article is in its contribution to expanding knowledge on the role of Islamic finance instruments in advancing the SDGs. The originality of the work lies in combining conceptual analysis with contextual application, thus providing both a theoretical framework and actionable pathways for leveraging Islamic finance to advance global development agendas.

The future of Earth depends on the investment choices of companies and individuals. Over the past decade, investment decisions of individuals have been intensely studied by researchers in developed countries. Yet, very few studies focused on these investment decisions in developing countries using an experimental approach. This study adopts an experimental approach to examine the impact of ESG awareness on the sustainable investment decisions of undergraduate students in Egypt. In the experiment, subjects were asked to watch a video on investment basics (control) and investment and ESG basics (treatment). After that, the subjects were asked to choose between two choices, one sustainable (ESG choice) and one unsustainable with and without a return difference. After controlling for demographic characteristics, personal traits, financial knowledge, and risk tolerance, the results indicate that ESG awareness increases the probability of making sustainable investment decisions. Moreover, the findings indicate that sustainable investing among individuals is conditional on higher or equal returns than conventional investing. The study provides practical insights for professionals and policy recommendations.