In today’s changing geo–economic circumstances, the Islamic finance industry is expanding beyond Muslim countries. European countries started their way to implementing Islamic finance more than 15–20 years ago. One of the goals of this implementation was to attract investment from the Persian monarchies, as well as to become a financial center not only for Old World funds but also a global center for Islamic finance.

In this context, the experience of European countries such as the UK, France, Germany, and Luxembourg appears particularly interesting. However, along with positive financial results, these countries are also experiencing negative effects, fueled by a growing Muslim population, the introduction of Sharia law into their legal systems, and the emerging challenges of civilizational conflict. 

This article provides a comprehensive analysis of the formation and functioning of the carbon unit (CU) market as a key tool for decarbonizing the economy. Major international practices (EU, China, Kazakhstan) are investigated, including pricing mechanisms, sectoral coverage and regulatory features. The methodology for calculating forest absorbency, which is a critical element for countries with extensive forests, is discussed in detail. The central place in the work is occupied by the analysis of the Sakhalin Experiment, the first regional project in Russia to introduce a system for regulating greenhouse gas emissions. The regulatory framework, methodological approaches to accounting for emissions, the results of the pilot project and the prospects for scaling are analyzed. Particular attention is paid to the relationship of the regional experiment with the obligations of the Russian Federation under the Paris Agreement.

It is concluded that the Sakhalin experiment serves as an important testing ground for testing the national carbon regulation system, identifying systemic challenges and preparing scaling throughout the Russian Federation in the context of fulfilling obligations under the second nationally determined contribution (ONUV–2). 

The Principles of Sustainable Development (SDGs), proposed by the United Nations in 2015, have radically changed the approaches to the organization of companies in all sectors of the economy. The speed of environmental change, digital transformation, armed conflicts, viruses, and the unstable economic situation have increased the need to improve corporate strategies aimed at achieving long[term sustainability, as well as to use management maturity assessment tools. Modern challenges, including the climate agenda and the transition to a low-carbon economy, require a review of project management approaches. Project portfolio management maturity assessment is an important tool for improving resource management efficiency and adapting to a changing external environment. The article examines the existing models of project management maturity and suggests their expansion, taking into account the Sustainable Development Goals (ESG). The necessity of introducing a new assessment methodology, including environmental, social and economic parameters, is substantiated, and key indicators of maturity of sustainable development management in portfolio management are identified. 

The article is devoted to the analysis of the investment attractiveness of third[tier bonds. It examines a number of factors that reduce investor interest in the instrument, including the increase in the number of defaults due to the high key rate of the Bank of Russia and the narrowing of yield spreads. Furthermore, the article lists groups of the most reliable issuers, which include, among others, microfinance organizations and companies with state support. 

In the rapidly evolving modern business environment, organizational agility has become a cornerstone of success. Companies face a wide range of challenges, from technological advancements to shifts in consumer preferences and global economic fluctuations. In this dynamic environment, the ability to quickly and effectively adapt is crucial to maintaining competitiveness and sustainability. A close relationship between strategic flexibility and the ability to dynamically adapt to the market environment has been identified. However, the existing relationship between them suffers from a number of problems, including a misunderstanding of strategic flexibility, leading to an imbalance in execution, rigid organizational structures that hinder strategic flexibility, and insufficient strategic forecasting capabilities on the part of management.

The article addresses a fundamental scientific problem in quality management system: the methodological gap between the nominal (formal) possession of a Quality Management System (QMS) certificate and the effective (substantive) functioning of the system. It is argued that existing assessment frameworks, including standard certification audits and macro[statistical analysis, fail to objectively differentiate between these two states, which leads to a distorted evaluation of QMS as a driver of enterprise competitiveness. To resolve this scientific task, the author proposes an original methodological approach to assessing the QMS maturity level. The methodology is based on five key dimensions and twenty measurable indicators, enabling a verifiable scoring[based evaluation and an objective classification of the system as either a nominal or an effective model. The proposed approach serves as an essential diagnostic tool for further empirical research into the economic impact of QMS on organizational performance. 

This article examines the specifics of labor relations regulation in small businesses. Small businesses play a key role in the economy and create a significant number of jobs. In a rapidly changing economic environment, small businesses face unique challenges in labor law and worker rights. This article explores the specifics of labor relations regulation in small businesses, analyzes existing problems, and identifies solutions. The relevance of this topic stems from the need to create conditions conducive to the sustainable development of the small business sector in Russia and improves the level of social protection for workers. This study considers key aspects of labor law, the influence of corporate culture on labor relations regulation, and provide practical recommendations for improving the situation in this area.