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All Journal Al-Kharaj: Journal of Islamic Economic and Business
Aryanti, Elsa Febiola
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Economics, Econometrics & Finance

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Carbon Trading in Indonesian Based on Financial Services Authority Regulation Number 14 of 2023 Reviewed from Maqāṣid as-Syarī'ah and Green Economy Aryanti, Elsa Febiola; Hidayat, Hidayat; Muchtar, Nurkhalis
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 1 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i1.8934

Abstract

Carbon trading is a strategic market instrument designed to reduce greenhouse gas (GHG) emissions in a measurable way. In Indonesia, this mechanism is regulated through Presidential Regulation No. 98 of 2021 and OJK Regulation (POJK) No. 14 of 2023. However, studies integrating ethical-religious aspects through Maqāṣid al-Sharī‘ah and the Green Economy paradigm remain limited. This research aims to analyze the integration of these two concepts within Indonesia's carbon trading system and evaluate the conformity of POJK No. 14 of 2023. The method employed is normative legal research with a qualitative content analysis approach. The findings indicate that: (1) carbon trading aligns with Maqāṣid al-Sharī‘ah in environmental protection (ḥifẓ al-bī’ah) through principles of justice and transparency; (2) carbon trading supports the Green Economy by internalizing environmental externalities into economic activities; and (3) POJK No. 14 of 2023 substantially accommodates Sharia values and sustainability. This integration serves as a vital foundation for a carbon trading system that is legally valid and provides spiritual and social benefits.
Co-Authors Hidayat Hidayat Muchtar, Nurkhalis