Efektivitas Green Sukuk sebagai Instrumen ESG Berbasis Syariah di Indonesia.
DOI:
https://doi.org/10.30762/istithmar.v9i2.3092Keywords:
Sukuk Hijau, ESG Syariah, IndonesiaAbstract
This study analyzes the effectiveness of Green Sukuk as an ESG instrument compliant with Sharia principles in Indonesia, assessing whether it represents a genuine opportunity or merely a market illusion. Using secondary data from the Ministry of Finance of the Republic of Indonesia for the period 2018–2023, the research employs quantitative methods through trend analysis, Pearson correlation, and multiple linear regression using Microsoft Excel. The analysis focuses on the relationship between Green Sukuk issuance across global, retail, and wholesale segments and annual emission reductions. The results indicate that the wholesale segment contributes significantly to emission reductions, while the global and retail segments show no statistically significant effects. Overall, total Green Sukuk issuance exhibits a moderately strong positive relationship with environmental impact. These findings underscore the potential of Green Sukuk as an effective sustainable financing instrument and highlight the importance of expanding domestic and global investor participation.
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