UNAIR NEWS Prof Dr. Muhammad Madyan SE MSi MFin, a lecturer at Faculty of Economics and Business, has successfully achieved the highest position in the academic community. He was inaugurated among the four professors on August 31, 2022, in Garuda Mukti Hall, Campus MERR C UNAIR.
Prof Madyan delivered his scientific oration on 楥arbon Emission Reduction and Corporate Financial Performance: A Theoretical and Empirical Study in the Perspective of Financial Science. He believed that climate change, which is rooted in human behavior, has significantly impacted the earth.
As written in the Quran surah Ar Rum verse 41, Allah Subhanahu Wa Ta檃la says corruption has appeared throughout the land and sea because of men檚 deeds. Prof Madyan stated that climate change is a major issue that needs to be taken seriously.
淐limate change is a serious threat to the national and global economy in the short and long-term caused by the enormous risks if mitigation actions were not immediately taken, he said.
He stated that a shift is happening in the scope of financial studies, as it now covers sustainable finance, compared to the former ones, which only discussed the traditional finance issues, like capital structure, dividend policy, agency problems, and others. In his oration, the professor also spoke about carbon emissions huge impact on climate change.
淐arbon emissions and greenhouse gas emissions are the factors causing climate change, he said.
Looking at the global climate change, there are positive responses at national and global levels with equal purposes; reducing carbon emissions together through joint, committed partnerships. As we all know, when left unnoticed, climate change causes natural disasters for humans. Prof Madyan named several cases of occurring natural disasters due to climate change.
淟adies and gentlemen, some occurring disasters caused by climate change include melting glaciers in Antarctica, South Kalimantan flash flood, severe flood in Seoul, and multiple cases of wildfires, he said.
The threats prove its urgency to be carefully reflected and paid attention to, especially from the environmental and social perspectives within theoretical finance studies, which also become an influential field of expertise. The professor stated that traditional finance theories have yet to cover the sustainable challenges.
Sustainable finance theories, carrying the moral ethics paradigm, respond to the challenge for future generations. Prof Madyan ended his oration with recommendations for stakeholders (corporations, government, and investors) to collectively reduce carbon emission with their respective responsibilities.
Author: Septiana Wulandari
Editor: Nuri Hermawan
