Green sukuk is a sharia-based financial instrument used by the government to financegreen projects. The number of green sukuk investors has continuously increased sincethe beginning of the green sukuk issuance, in 2019. This is inseparable from theattractive profit sharing and very low risk. In the Hindu concept, the term RwaBhineda is known, which emphasises the existence of two things that arecontradictory but always side by side, as is the case with profit sharing and risk ingreen sukuk. This research aims to examine the effect of profit sharing and riskpartially on investment interest in green sukuk and examine the moderating effect ofenvironmental awareness. The population used is all green sukuk investors with asample size of 100 green sukuk investors. The data collection method uses aquestionnaire. The data analysis technique used is Structural Equation Modeling withPartial Least Squares (SEM PLS). The results showed that profit sharing andenvironmental awareness has a positive and significant effect on green sukukinvestment interest, risk has no effect on investment interest, environmentalawareness weakens the effect of profit sharing on investment interest in green sukukwith negative direction but environmental awareness is not able to moderate theeffect of risk on investment interest in green sukuk. This research combines theconcept of sharia in Islam and the concept of rwa bhineda in Hinduism, making itinteresting to do research.
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