ISTIFADA : Jurnal Ekonomi dan Lembaga Keuangan Syariah
Vol. 2 No. 02 (2026): ISTIFADA : Jurnal Ekonomi Dan Lembaga Keuangan Syariah

Effectiveness Implementation of Green Sukuk in Support Financial Sustainable Finance in Islamic Commercial Banks in Indonesia

Muhammad Nur Husen (STIES Babussalam Jombang)
Zakiyyah Ilma Ahmad (STIES Babussalam Jombang)
Abdul Wakhid (STIES Babussalam Jombang)



Article Info

Publish Date
14 Aug 2026

Abstract

Development draft sustainable finance push institution Islamic finance for integrate principle sustainability in activity business and investment . One of the instruments that have potential big in support financing sustainable is green sukuk , namely sukuk whose results its publication allocated For projects friendly environment in accordance with sharia principles . Research This aim For analyze effectiveness implementation green sukuk in support implementation Sustainable finance in Islamic Commercial Banks in Indonesia. Research use approach quantitative with method explanatory . The data used is secondary data obtained​ from report Islamic General Bank finance , report sustainability report , publication​ Financial Services Authority (OJK), Bank Indonesia, and the Ministry of Finance of the Republic of Indonesia during 2020–2025 period . Data analysis was carried out use multiple linear regression For test influence implementation green sukuk to indicator finance proxied sustainability​ through growth financing green , profitability , quality assets , and Environmental, Social, and Governance (ESG) values . Research result show that implementation green sukuk influential positive and significant to improvement financing green , strengthening image bank sustainability , as well as improvement investor confidence . In addition , the implementation green sukuk participate increase efficiency fund management and encourage growth asset productive development - oriented​ low carbon . Although Thus , the effectiveness implementation green sukuk Still face various challenges , including limited​ project green that fills sharia criteria , low market literacy regarding instrument finance green sharia, as well as Not yet optimally harmonization regulations and standards reporting sustainability . Research This conclude that green sukuk is instrument effective Islamic finance in support implementation sustainable finance at Islamic Commercial Banks in Indonesia, so that required strengthening policy , innovation products , as well as collaboration between regulators, industry banking , and investors to expand its utilization in reach objective development sustainable.

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Journal Info

Abbrev

istifada

Publisher

Subject

Description

ISTIFADA: Jurnal Ekonomi dan Lembaga Keuangan Syariah adalah jurnal ilmiah yang diterbitkan oleh Prodi Perbankan Syariah STIES Babussalam. Jurnal ini berfokus pada publikasi karya ilmiah di bidang ekonomi Islam, perbankan syariah, dan lembaga keuangan syariah, baik dalam konteks teori maupun ...