<![CDATA[This study aims to analyze the effects of effectiveness, ease of financing, and risk on the development of green sukuk in Indonesia’s Islamic capital market. The study employs a quantitative approach with an associative research method. Data were collected through questionnaires distributed to 45 respondents and documentation, and were analyzed using multiple linear regression with the assistance of SPSS 26. The results indicate that effectiveness has a positive and significant effect on the development of green sukuk, with a t-value of 2.965 and a significance level of 0.005. Ease of financing does not have a significant effect, with a t-value of 1.328 and a significance level of 0.192. Meanwhile, risk has a positive and significant effect on the development of green sukuk, with a t-value of 3.379 and a significance level of 0.002. Simultaneously, effectiveness, ease of financing, and risk have a significant effect on the development of green sukuk, as indicated by the F-test significance value of 0.000. The Adjusted R Square value of 0.717 indicates that the three independent variables explain 71.7% of the variation in green sukuk development, while the remaining 28.3% is explained by other factors outside the research model. These findings highlight the importance of effective fund management and sound risk management in supporting the development of green sukuk in Indonesia.]]>
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