Green Sukuk: Integrating Sharia Principles, Sustainability, and Social Welfare in Indonesia's SDGs Framework
DOI:
https://doi.org/10.70062/incoils.v3i1.498Keywords:
Green sukuk, Sustainable Development Goals, Islamic finance, sustainability, climate change mitigationAbstract
This study aims to examine the role and contribution of green sukuk in supporting the achievement of Sustainable Development Goals (SDGs) in Indonesia through the alignment of sharia principles, sustainability, and community welfare. The research method employed is descriptive qualitative with a library research approach. Data collection was conducted through systematic searches of academic journal databases, collection of official documents from the websites of related institutions, regulatory and policy studies, and compilation of statistical data from various official sources. The data analysis method in this study uses a combination of comparative analysis and information synthesis. The analysis results found that green sukuk has proven itself as an effective Islamic financial instrument in supporting the achievement of Sustainable Development Goals (SDGs) through the provision of funds to green projects in various regions in Indonesia. In addition, green sukuk also plays a major role in having a positive impact on the welfare of the Indonesian people. However, in its development, green sukuk faces several challenges that need to be addressed immediately. On this basis, several improvements are needed, one of which is that the government needs to improve the existing legal framework to enhance market development, increase accessibility for underserved communities, and strengthen monitoring mechanisms for environmental impact assessmentReferences
Bibliography
Abdullah, M. S., and J. S. Keshminder. “What Drives Green Sukuk? A Leader’s Perspective.” Journal of Sustainable Finance & Investment 12, no. 3 (2022): 985–1005. https://doi.org/10.1080/20430795.2020.1821339.
Affandi, A., and N. K. Khanifa. “Konsep Harta: Penentuan Keuntungan Green Sukuk Pemicu Impact Investment SDGs.” Journal of Economic, Management, Accounting and Technology 5, no. 2 (2022): 213–224.
Anggraini, D. “Green Sukuk: Instrumen Pembiayaan Berkelanjutan.” Jurnal Ekonomi Syariah 3, no. 1 (2018): 45–60.
Araminta, D. V., Q. Qudziyah, and Y. P. Timur. “The Role of Green Sukuk in Realizing the Sustainable Development Goals 2030 Agenda.” Jurnal Ekonomi dan Bisnis Islam 8, no. 2 (2022): 251–266.
Arifudin, A., N. Anjani, N. Serliana, M. Auliah, and A. Amaliah. “Green Sukuk: Tantangan dan Strategi Pengembangan untuk Pembangunan Berkelanjutan.” SANTRI: Jurnal Ekonomi dan Keuangan Islam 2, no. 3 (2024): 12–20.
Baita, A. J., and H. Suleiman. “Sukuk and SDG-9 ‘Industry, Innovation and Infrastructure’ in Sub-Saharan Africa: Achievements, Challenges and Opportunities.” In Islamic Wealth and the SDGs: Global Strategies for Socio-economic Impact, 599–620. 2021.
Binekasri, R. “Economic Impacts of Climate Change in Developing Countries.” Environmental Economics Review 15, no. 2 (2023): 112–128.
Faza, F. T. Ekonomi Islam dan Penguatan Keuangan Ekonomi Global: Keuangan Islam untuk Pembangunan Hijau. Yogyakarta: Jejak Pustaka, 2023.
Fitrah, R., and A. Soemitra. “Green Sukuk for Sustainable Development Goals in Indonesia: A Literature Study.” Jurnal Ilmiah Ekonomi Islam 8, no. 1 (2022): 231–245.
Grahesti, A., D. F. Nafii’ah, and E. Pramuningtyas. “Green Sukuk: Investasi Hijau Berbasis Syariah dalam Mewujudkan Ketahanan terhadap Perubahan Iklim di Indonesia.” Jurnal Ilmiah Ekonomi Islam 8, no. 3 (2022): 3374–3389.
Karina, L. A. “Peluang dan Tantangan Perkembangan Green Sukuk di Indonesia.” Conference on Islamic Management, Accounting, and Economics (CIMAE) Proceedings 2 (2019): 259–265.
Kurnia, F., and L. Suwita. “Analisis Peran dan Kontribusi Green Sukuk terhadap Implementasi Sustainable Development Goals (SDGs) di Indonesia.” Jurnal Menara Ekonomi 10, no. 2 (2024): 150–165.
Low Carbon Development Initiative (LCDI). Indonesia Climate Change Economic Impact Assessment. Jakarta: LCDI, 2022.
Marwal, I. Hukum Wakaf: Tinjauan Komprehensif terhadap Aspek Hukum dan Syariah. Sukoharjo: Tahta Media Group, 2024.
Mauliyah, N. I., H. Hasanah, and M. Hasanah. “Potensi Pengembangan Green Sukuk dan Aspek Hukum di Indonesia.” Ekonomica Sharia: Jurnal Pemikiran dan Pengembangan Ekonomi Syariah 8, no. 2 (2023): 221–234.
Ministry of Finance Republic of Indonesia. Green Sukuk: Allocation and Impact Report 2022. Jakarta: Ministry of Finance, 2022.
———. Green Sukuk: Allocation and Impact Report 2023. Jakarta: Ministry of Finance, 2023.
Mutmainnah, S., and M. R. Romadhon. “Pendayagunaan Green Sukuk dalam Menghadapi Perubahan Iklim di Indonesia.” Jurnal Ekonomi dan Bisnis Islam (JEBI) 3, no. 1 (2023): 187–200.
Nugroho, L. “Integrasi Prinsip Syariah dalam Keuangan Berkelanjutan.” Islamic Finance Review 7, no. 1 (2022): 88–105.
Rohmah, N., A. Rohim, and S. Herianingrum. “Sovereign Green Sukuk Indonesia dalam Tinjauan Maqashid Shariah.” Jurnal Penelitian IPTEKS 5, no. 2 (2020): 259–269.
Siswantoro, D. “Performance of Indonesian Green Sukuk (Islamic Bond): A Sovereign Bond Comparison Analysis, Climate Change Concerns?” IOP Conference Series: Earth and Environmental Science 200, no. 1 (2018): 012065.
Suwanan, A. F., S. Munir, and S. Merlinda. “Analisis Peran dan Tantangan Green Sukuk bagi Ketahanan Perubahan Iklim pada Wilayah Rentan Selama Pandemi COVID-19.” Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah 4, no. 4 (2022): 978–989.
Suwarno, E. B. Peningkatan Peran Perbankan dalam Mendorong Percepatan Penerapan Green Economy Guna Memperkuat Ketahanan Nasional. Jakarta: Lembaga Ketahanan Nasional RI, 2023.
UNDP Indonesia. Laporan Baru UNDP: Potensi 50 Miliar Dolar Pendanaan Syariah untuk Perubahan Iklim & SDGs. Jakarta: UNDP, 2021.
Wahyuni, M. S., T. E. Sari, and Z. Hasan. “Investasi Berkelanjutan dalam Perspektif Ekonomi Syariah.” Musytari: Neraca Manajemen Ekonomi 5, no. 1 (2024): 78–95.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Proceeding International Conference on Islam, Law, and Society (INCOILS)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
