Journal of Economic Resilience and Sustainable Development
Vol. 2 No. 2: (August) 2025

Greenjrah integration: From materialism to maslahah in sharia-compliant green investment among generation z Muslims

Irkham, Ahmad (Unknown)
Muna, Salsabila Aizzatul (Unknown)
Mukhlash, Harisalfi Fadhil (Unknown)
Saputri, Pungky Lela (Unknown)



Article Info

Publish Date
31 Aug 2025

Abstract

Background: Research on Islamic sustainable investing often examines religiosity, environmental concern, and financial self-control separately, leaving limited explanation of how value transformation among young Muslims becomes consistent sharia-compliant green investment behaviour and supports economic resilience. This paper develops GREENJRAH, an integrative pathway linking financial hijrah, green hijrah, and spiritual hijrah, within Indonesia’s Generation Z context. Methods: Using a descriptive qualitative, literature-based design, we synthesise interdisciplinary studies in Islamic behavioural finance, maqasid al-shariah and maslahah ethics, and environmental, social, and governance (ESG) investing to build a conceptual framework. Findings: Financial hijrah strengthens planning, budgeting, and sharia screening discipline; green hijrah increases ecological awareness and preference for responsible assets; spiritual hijrah anchors motives in tawhid, khalifah stewardship, and maqasid orientation, reducing short-termism and speculative impulses. Together, these dimensions can generate measurable behaviour change such as stronger intention to invest, greater allocation to sharia-compliant green instruments (e.g., green sukuk), longer holding horizons, and reduced trend-driven trading. These shifts may strengthen household financial buffers and help mobilise youth capital for low-carbon development. Conclusion: GREENJRAH provides guidance for regulators, Islamic financial institutions, and universities to connect youth spirituality with green finance action through literacy programs and product strategies. Novelty/Originality of this article: The study formulates an explicit tri-dimensional hijrah mechanism that integrates financial discipline, ecological responsibility, and maqasid-oriented spirituality to explain sharia-compliant green investment among Indonesian Generation Z Muslims.

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Journal Info

Abbrev

ERSUD

Publisher

Subject

Economics, Econometrics & Finance Environmental Science Social Sciences

Description

ERSUD aims to promote research that explores the intersection of economic resilience and sustainable development. The journal seeks to provide a platform for scholarly work that advances understanding of how economies can withstand and adapt to challenges while ensuring sustainable growth. ERSUD is ...