Peran Strategis Green Sukuk dalam Mendukung Pembangunan Berkelanjutan: Studi Berbasis Literatur Global 2021–2025
DOI:
https://doi.org/10.65310/4et7d832Keywords:
Green Sukuk, sustainable finance, Islamic finance, ESG integration, climate investmentAbstract
This study investigates the strategic role of Green Sukuk in supporting global sustainable development agendas during the 2021–2025 period through a systematic review of international literature. By synthesizing findings from peer-reviewed articles, institutional reports, and global regulatory guidelines, this research identifies Green Sukuk as a rapidly expanding Islamic financial instrument that bridges environmental objectives with Sharia-compliant investment principles. The analysis reveals that Green Sukuk contributes significantly to financing renewable energy, climate-resilience programs, waste management, and low-carbon infrastructure, particularly in emerging economies such as Indonesia, which has become one of the world’s leading issuers. The study highlights that transparency, external verification, and alignment with Environmental, Social, and Governance (ESG) indicators strengthen investor confidence and mitigate risks associated with greenwashing. Additionally, the integration of Maqasid al-Shariah principles reinforces the ethical foundations of Green Sukuk, positioning it as a dual-legitimacy instrument with financial and moral value. Overall, the findings demonstrate that Green Sukuk functions not only as a sustainable financing tool but also as a policy mechanism that accelerates green economic transition and broadens public participation through both institutional and retail investment models.
Downloads
References
A’ini, H., Ayu, I., & Maghfiroh, R. (2023). Keuangan Islam sebagai katalisator green economy: Menuju pencapaian SDGs dalam kerangka maqashid syariah. Madani: Jurnal Politik dan Sosial Kemasyarakatan, 16(3). https://doi.org/10.52166/madani.v16i03.9145
Ahmed, S., & Mollah, M. (2021). Sukuk markets and risk-sharing principles in Islamic finance. Journal of Islamic Accounting and Business Research, 12(3), 389–405.
Aji, S. M., & Abdullah, N. (2022). Comparative analysis of sukuk and conventional bonds: Shariah principles and economic implications. International Journal of Islamic Economics and Finance, 5(2), 112–128.
Aminin, R. I., & Khayati, I. (2025). Analisis peran green sukuk dalam pembiayaan sektor renewable energy di Indonesia untuk mendukung pencapaian net zero emission. Musyarakah: Journal of Sharia Economic, 5(2). https://doi.org/10.24269/mjse.v5i2.12422
Badan Pengelola Keuangan Haji. (2021). Kupas tuntas investasi SBSN: Green Sukuk Ritel – Sukuk Tabungan Seri ST008. BPKH Internal Publication.
Erianto, R., Mutthaqin, M. S., & Marliyah, M. (2024). Urgensi green sukuk dalam menjaga keberlangsungan lingkungan hidup di Indonesia. Jurnal Asy-Syarikah: Jurnal Lembaga Keuangan, Ekonomi dan Bisnis Islam, 6(1). https://doi.org/10.47435/asy-syarikah.v6i1.2394
Hakim, L., & Yousaf, S. (2021). The role of green sukuk in financing sustainable projects: Evidence from emerging markets. Journal of Sustainable Finance & Investment, 11(4), 275–290.
Hassan, K., & Ali, M. (2021). Maqasid al-Shariah and Islamic financial instruments: A sustainability-oriented analysis. Review of Islamic Economics, 25(1), 33–52.
ICMA, Islamic Development Bank, & London Stock Exchange Group. (2024). Guidance on green, social and sustainability sukuk. ICMA.
Kementerian Keuangan Republik Indonesia. (2025). Laporan penerbitan sukuk hijau nasional 2025. Kemenkeu.
Badan Wakaf Indonesia. (2023). Keistimewaan Sukuk Hijau melalui Lelang PBSG – Laporan Tahunan. https://www.bwi.go.id
Jojo, J., & Frasipa, A. (2024a). The role of green sukuk in sustainable financing: An analytical study in Indonesia during the 2018–2024 period. TSARWATICA: Islamic Economic, Accounting, and Management Journal, 7(1). https://doi.org/10.35310/tsarwatica.v7i1.1558
Jojo, J., & Frasipa, A. (2024b). The role of green sukuk in sustainable financing during 2018–2024. TSARWATICA Journal, 7(1), 55–70.
Maulida, A. Z., Antasari, N., & Purnomo, A. (2023a). Green sukuk retail and sustainable development in Indonesia. Islamic Economics Journal, 9(1), 45–60.
Maulida, A. Z., Antasari, N., & Purnomo, A. (2023b). Green sukuk retail towards sustainable development in Indonesia. Islamic Economics Journal, 9(1). https://doi.org/10.21111/iej.v9i1.9362
Nawaz, T., Haniffa, R., & Hudaib, M. (2022). ESG integration in Islamic finance: Empirical insights and opportunities. Journal of Cleaner Production, 362, 132–145.
Rabani, D. T. (2025). Green sukuk sebagai instrumen hukum ekonomi syariah untuk pembangunan berkelanjutan di Indonesia. Ekonomi Keuangan Syariah dan Akuntansi Pajak, 2(3), 47–62. https://doi.org/10.61132/eksap.v2i3.1170
Rahmade, M., & Arini, S. (2025a). Sharia compliance and ESG principles in green sukuk. Jurnal Ilmu Multi Syariah, 1(1), 33–41.
Rahmade, M., & Arini, S. (2025b). Sharia compliance on sustainable investment (ESG) and green sukuk. Jurnal Ilmu Multi Syariah, 1(1), 33–41.
Rahmayanti, S., Nursari, N., & Nasrudin. (2025). Peran green financing dalam ekonomi syariah sebagai respon adaptif terhadap volatilitas ekonomi dan krisis iklim global: Indonesia. Jurnal Ilmiah Ekonomi Islam, 11(4).
Rini, H., & Yuliani, D. (2022). Transparency and accountability in Indonesia’s project-based sukuk (PBS) for green financing. Asian Journal of Islamic Finance, 4(2), 88–102.
Siddiq, U. I. N. K. H. A., M., S., & Romadhon, M. R. (2023). Pendayagunaan green sukuk dalam menghadapi perubahan iklim di Indonesia. Jurnal Ekonomi dan Bisnis Islam, 3(1), 187–200. https://doi.org/10.56013/jebi.v3i1.2021
Sugiyono. (2021). Metode penelitian kuantitatif, kualitatif, dan R&D. Alfabeta.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Dio Firmansyah, Peni Haryanti (Author)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
