Is Corning, Inc. (GLW) Halal to invest in?

Is Corning, Inc. (GLW) Halal to invest in?

Corning Incorporated is an American multinational technology company that specializes in specialty glass, ceramics, and related materials and technologies including advanced optics, primarily for industrial and scientific applications.

How much of Corning, Inc’s revenue comes from haram?

Corning Inc.’s source of revenue is categorized into six segments: Display Technologies, Optical Communications, Speciality Materials, Environmental Technologies, Life Sciences, and All Other.

Practical Islamic finance concludes

None of Corning, Inc’s. Revenue comes from anything inherently haram.

Does Corning, Inc rely on interest to operate?


 
   
Recent Quarter ended 3/31/2022Fiscal Year ended12/31/2021Fiscal Year ended12/31/2020
Interest Expense71300276
Total Operating Expense7132,9513,022
Interest Expense / Total Operating Expense9.96%10.17%9.13%

*Numbers in Millions, of U.S. dollars 

Practical Islamic finance concludes:

There appears to be a persistent reliance on the use of Riba in Corning, Inc’s. operations.

What is Corning’s Environmental, Social, and Governance (ESG) impact?

Environment

Corning has an extensive program to ensure that its facilities comply with state, federal, and foreign pollution-control regulations. This program has resulted in capital and operating expenditures each year. To maintain compliance with such regulations, capital expenditures for pollution control in operations were approximately $18.4 million in 2021 and are estimated to be $23.3 million in 2022.

Social

Corning achieved 100% pay equity for all salaried men and women in their worldwide operations and they have continued to maintain pay equity across minority groups compared with white salaried employees. In the U.S. Corning has a Glassdoor rating of 3.9 out of 5.

Governance

No notable governance highlights. 

Practical Islamic finance concludes:

Corning, Inc. has a net positive ESG impact. 

Comfort Rating

From Corning, Inc. business, financial, and ESG reviews, Practical Islamic Finance rates Corning, Inc. stock as

Uncomfortable to invest in from a halal perspective.

Justification

Persistent reliance on riba in operations.

Sources

10Q March 2022

10K December 2021

Corning ESG 

Corning Glassdoor Rating

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