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EcoProfit : Sustainable and Environtment Business
Published by Institute for Advanced Science, Social, and Sustainable Future
ISSN : 30249872     EISSN : 30249872     DOI : https://doi.org/10.61511/ecoprofit.v1i1.2023
Core Subject : Economy, Science, Social,
Earth & Planetary Sciences Economics, Econometrics & Finance Environmental Science
Jurnal ini Fokus untuk memfasilitasi sarjana, peneliti, dan dosen untuk menerbitkan artikel penelitian asli atau artikel ulasan dalam bidang ekonomi dan bisnis hijau berkelanjutan dengan peran lingkungan didalam operasi bisnis. Artikel yang akan diterbitkan di EcoProfit : Sustainable and Environment Business harus mengikuti fokus dan ruang lingkup jurnal ini. Jurnal ini menerima naskah baik dalam Bahasa Indonesia maupun Bahasa Inggris. EcoProfit menerbitkan artikel penelitian dalam bidang “Ilmu Ekonomi dan Bisnis Hijau Berkelanjutan” dengan ruang lingkup sebagai berikut : - Bisnis Berkelanjutan - Manajemen Lingkungan - Model Bisnis Hijau - Strategi Bisnis - Manajemen Kinerja - Keberlangsungan Bisnis - Inovasi Nilai Berkelanjutan - Keberlanjutan Finansial - Keberlanjutan Sosia - Strategi Pembangunan Berkelanjutan - Pemasaran Hijau - Industri Ekonomi Hijau - UKM hijau
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 42 Documents
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Adaptation of Biscay model in Indonesian tax reform: SDGs-based fiscal incentive innovation to realize sustainable economic transformation towards golden Indonesia 2045 Muhammad Adnan Nurcahyo; Dewinta Iga Wardani
EcoProfit: Sustainable and Environment Business Vol. 3 No. 2: January (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v3i2.2026.2362

Abstract

Background:  The vision of a Golden Indonesia 2045 is a great goal of Indonesia in celebrating its 100 years of independence, but a number of challenges such as demographic bonus, climate change, and economic problems can be obstacles to its achievement.  Facing these challenges, the government can implement Sustainable Development Goals (SDGs), in which case, the Biscay Model is one of the evolutions in the field of taxation that can help the development of SDGs implementation in Indonesia. Spain's macroeconomic indicators show positive prospects, characterized by GNI per capita growth increasing from 1.2% in 2019 to 2.7% in 2023, as well as FDI net inflows rising from USD 10.47 billion in 2019 to 19.92 billion in 2024.  Methods: This research uses a qualitative method with a literature study approach to examine the opportunity to apply the Biscay Model in the Indonesian tax system as an instrument that supports the achievement of sustainable development goals. Findings: The results show that the Biscay Model has the potential to be applied in Indonesia because it can open up space for the private sector to play an active role in financing development, strengthen government and business collaboration, and accelerate the achievement of the Golden Indonesia Vision 2045. Conclusion: Thus, this model not only presents an innovative alternative fiscal strategy, but also an important opportunity to promote economic, social and environmental sustainability. Novelty/Originality of this article: The novelty of this research lies in assessing the direct connection between the SDGs-based taxation model and Indonesia's long-term development vision, thus offering a new perspective on the role of taxation in supporting sustainable transformation.
Usage patterns and constraints of harnessing social media channels for entrepreneurship among youths in Nigeria Carol Odoyi
EcoProfit: Sustainable and Environment Business Vol. 3 No. 2: January (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v3i2.2026.2365

Abstract

Background: In recent years, social media channels have emerged as powerful tools for entrepreneurship, but every innovation of man has come with two-faced implications; on one side are opportunities, while on the other side are limitations. Accordingly, this paper presents the outcome of research on the usage patterns and constraints of harnessing social media channels for entrepreneurship among youths in Nigeria. The objectives of the study were to identify the usage patterns as well as the constraints of harnessing social media channels for entrepreneurship among youths in Nigeria. Methods: The study was anchored on the uses and gratifications theory. It adopted the descriptive survey research design and multi-stage sampling technique to derive responses from a sample size of 384 youths aged between 18 and 29 years. The instruments for data collection were focus group discussions and the questionnaire, while data were analysed using explanation-building and statistical techniques of mean and standard deviation. Findings: The findings of the study revealed that some youths in Rivers State use social media channels for microblogging, marketing, digital influencing, and brand promotion. However, challenges such as cyberbullying and internet fraud significantly hinder entrepreneurial outcomes. Conclusion: Based on the findings, the researcher concluded that while social media gratifies a wide variety of youths entrepreneurial needs, youths are, on the other hand, sacrificing so much for these gratifications as it imposes trade-offs on their mental health and productivity. Novelty/Originality of this article: The study recommends digital literacy programmes, stronger regulatory frameworks, and entrepreneurial mentorship to maximise benefits and mitigate risks.
The analysis of short supply chain patterns in urban vegetable stalls and its contributions to sustainable development goals Ivana Arviani Tan; Rustina Untari
EcoProfit: Sustainable and Environment Business Vol. 3 No. 2: January (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v3i2.2026.2597

Abstract

Background: The long supply chain of the global food system faces criticism of poverty, which has led to the emergence of short supply chains (SSC) as an alternative. The urban system, particularly in Semarang City, still needs improvement because currently, food is still supplied from agricultural areas outside the city due to the city's inadequate conditions for farmed food. This study investigates the implementation of SSC through emerging urban vegetable stalls ("kedai sayur") in Semarang City, Indonesia, a growing urban center that relies on surrounding agricultural areas. Methods: A qualitative case study approach was used, utilizing semi-structured interviews and participant observation with eight vegetable stalls selected purposively in five geographical regions of Semarang City—north (North Semarang Subdistrict), east (Gayamsari and Pedurungan Subdistrict), south (Banyumanik and Gajahmungkur Subdistrict), west (West Semarang Subdistrict), and central (Central Semarang Subdistrict)—to understand their operational and supply chains patterns. Findings: The research identified four distinct SSC patterns, adapted to local contexts, which effectively reduce intermediaries and enhance vegetable freshness. These patterns demonstrably contribute to Sustainable Development Goals (SDGs) 2, 11, and 12 by improving food access, strengthening urban-rural linkages, and promoting responsible consumption. However, a key finding is the environmental trade-off: reliance on small-scale, fragmented logistics can lead to higher carbon emissions per unit, presenting a risk of unintentional greenwashing. Conclusion. Vegetable stalls represent a significant innovation for urban food security, achieving their full sustainability potential requires coordinated logistics solutions, such as shared transport, to mitigate hidden environmental costs and ensure authentic sustainable development. Novelty/Originality: This study bridges the gap between urban food security and sustainable logistics by analyzing the "kedai sayur" (vegetable stall) phenomenon in Semarang City.
The decision architecture of sustainable fashion: Evaluating green knowledge as a mediator in generation Z purchase intentions Mustofa, Muhamad Jazuli; Maula , Defia Ifsantin
EcoProfit: Sustainable and Environment Business Vol. 3 No. 2: January (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v3i2.2026.2317

Abstract

Background: Indonesia's textile and apparel industry, while being a major economic contributor due to fast fashion growth, faces criticism for its environmental impact, prompting brands like UNIQLO to adopt sustainable marketing practices. This study aimed to examine how green marketing tools specifically eco-labels, eco-brands, and environmental advertisements affect green purchase intention among Generation Z in Yogyakarta, with green knowledge assessed as a mediating factor. Method: Employing a quantitative method and purposive sampling of 250 respondents, the research applied Structural Equation Modeling (SEM) using SMART PLS 3.0 to analyze the data. Finding: The results demonstrated that eco-labels and environmental advertisements significantly enhance green purchase intention through the mediation of green knowledge, while eco-brands showed a positive but insignificant effect. The structural model achieved an R-square value of 0.620, confirming that the integrated variables explain 62% of the variance in green purchase intention, with environmental advertising identified as the most dominant predictor (F² = 0.388). Conclusion: The study concludes that strengthening eco-labeling and environmental advertising, alongside effective education, can significantly promote sustainable purchasing behavior among young consumers. However, the findings are limited to Generation Z in a single region, suggesting that future studies should incorporate broader demographics, geographic diversity, and additional influencing variables for wider applicability. Novelty/Originality of this article: This research contributes a localized structural model that evaluates the psychological mechanism of green knowledge as a mediator within the Indonesian fast-fashion industry.
Implementing sustainable halal-green frameworks: An analysis of waste valorization and ethical consumption in institutional canteens Arizal Permana Aqila; Siska Wahyuningsih; Ika Feni Setyaningrum
EcoProfit: Sustainable and Environment Business Vol. 3 No. 2: January (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v3i2.2026.2546

Abstract

Background: Halal green business is a business model that integrates environmental sustainability with Islamic ethical values in its operations. Tinuku Mart, as an Islamic-based campus canteen, implements this concept through a waste sorting system according to its type, both organic and inorganic, and actively campaigns for a minimal waste movement in the canteen environment by encouraging the reduction of single-use packaging and providing supporting facilities for waste management. This study aims to examine the application of waste management at Tinuku Mart as part of a halal-based green business practice. Methods: The collected data underwent a systematic analysis process involving data reduction, narrative and descriptive presentation, and interpretive conclusion-drawing to link waste management practices with halal and sustainability values. Finding: The findings indicate that waste sorting has a positive impact on environmental cleanliness, waste management efficiency, and the awareness of the academic community regarding sustainability. In addition, halal principles are reflected in the provision of thayyib, ethical, and hygienic food. Conclusion: This study shows that Tinuku Mart successfully presents a sustainable business model that aligns with the context of a modern Islamic campus and supports environmentally conscious development. Novelty/Originality of this article: This research offers a unique perspective by merging the concept of thayyib (quality and ethics) with modern circular economy practices within a higher education setting.
Development of NARA biodegradable journaling books as a circular economy-based solution for sustainable lifestyle transformation and social empowerment Ahmad Arro’uf Sulfuadi; Ferdian Anugrah Pratama; Muhammad Imam Baihaqi
EcoProfit: Sustainable and Environment Business Vol. 4 No. 1: July (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v4i1.2026.2596

Abstract

Background: Sustainability challenges have prompted higher education institutions to reconsider intensive paper consumption that contributes to waste and carbon emissions. Prior studies show that student behavior can be influenced through sustainable product design, yet affordable and functional eco-friendly academic products remain limited. Meanwhile, corn husk waste is underutilized despite its potential as a biodegradable material. This study aims to develop and evaluate a biodegradable journaling product made from recycled paper and corn husks as a circular economy–based solution supporting sustainable lifestyles and social empowerment. Methods: This study employed an applied product development approach integrated with the voice of customer (VoC) method. Product development included material selection, prototype design, and the incorporation of circular economy principles. User data were collected through an online structured questionnaire distributed to university students in the Special Region of Yogyakarta, Indonesia. Quantitative data were analyzed using descriptive statistics, while qualitative responses were thematically analyzed to capture user perceptions regarding functionality, sustainability attributes, and social value. Findings: The VoC analysis shows that users prioritize motivational and environmental insights (47.4%), habit tracking features (41.2%), and digital synchronization through reminders or Quick Response (QR)-based systems (36.8%). These findings indicate that sustainable journaling products are more effective when cognitive motivation, behavioral monitoring, and digital convenience are integrated. The results support behavioral design theory, which suggests that sustainable behavior adoption is strengthened through the combination of inspiration, accountability, and usability. Conclusion: This study demonstrates that agricultural waste and literature-based content can be transformed into a user-centered and sustainable academic product through structured product development and VoC integration. Novelty/Originality of this article: This research uniquely integrates biodegradable material innovation, behavioral journaling design, and user-centered product development within a circular economy framework while incorporating social empowerment at the farmer level.
Techno-economic analysis of geothermal green hydrogen: Investment validation through green accounting framework Fitra Reza Fadhilah
EcoProfit: Sustainable and Environment Business Vol. 4 No. 1: July (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v4i1.2026.2744

Abstract

Background: Indonesia faces a significant economic dilemma in aligning its growth targets with the 2060 net-zero emission (NZE) commitment, particularly within the geothermal sector which holds immense potential yet suffers from an investment paradox due to perceived high risks. While the geological reserves are abundant, the translation into bankable energy projects remains sluggish. This study aims to bridge this gap by validating the financial viability of geothermal-based green hydrogen production through a standardized techno-economic framework integrated with green accounting principles. Methods: The research proposes a hybrid Aakaline water electrolysis and solid oxide electrolysis cell (AWE-SOEC) system to maximize efficiency from stable geothermal baseloads. The methodology employs a rigorous techno-economic analysis (TEA) and a Monte Carlo simulation with 10,000 iterations to quantify investment risks and internalize environmental externalities such as carbon credits and oxygen by-products valuation. Findings: The findings demonstrate a highly competitive levelized cost of hydrogen (LCOH) at a median of $4.77 per kg. Furthermore, the project projects a net present value (NPV) of US$95.1 million with an intiernal rate of return (IRR) of 49.6% along with a rapid payback period of 3.1 years that far exceeds standard industry hurdle rates. The stochastic analysis reveals a 98.2% probability of positive returns. Conclusion: Integrating green accounting metrics transforms the economic calculation from simple cost analysis into a comprehensive investment validation. The study proves that geothermal hydrogen is not only technically feasible due to thermal integration but also presents a premium profitability profile, suggesting that environmental compliance can be leveraged as a value driver for accelerating Indonesia's energy transition. Novelty/Originality of this article: This study integrates a techno-economic analysis, incorporating a novel AWE-SOEC hybrid electrolyzer configuration and a 10,000-iteration Monte Carlo simulation that internalizes environmental externalities, to produce the first probabilistic investment validation framework for geothermal-based green hydrogen in Indonesia.
Digitalization of bullion trading: A rapid systematic literature review based on strategic management 5.0 framework Hari Imbrani; Indri Yani
EcoProfit: Sustainable and Environment Business Vol. 4 No. 1: July (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v4i1.2026.3522

Abstract

Background: The digitalization of bullion trading has accelerated rapidly due to technological advancement and market demand for more efficient, transparent, and inclusive investment access. Despite growing implementation across platforms, the academic literature remains fragmented in explaining the dominant themes, key benefits, and strategic risks of bullion trading digital transformation. Methods: This study employed a rapid systematic literature review (RSLR) approach using PRISMA guidelines to identify, screen, and synthesize relevant scholarly publications on digital bullion trading. Articles were collected from major academic databases, filtered using predefined inclusion–exclusion criteria, and analyzed using thematic synthesis to map conceptual patterns and research trends. Findings: The review reveals four dominant themes: technology adoption and platform innovation, trading efficiency and market accessibility, regulatory and governance challenges, and risk management including cybersecurity and fraud. Digital bullion trading strengthens market inclusivity and transaction speed but also increases exposure to technological, compliance, and trust-related risks. Furthermore, regulatory readiness and institutional governance emerge as critical enablers for sustainable digital bullion ecosystems. Conclusion: Digitalization in bullion trading provides strategic advantages in operational efficiency, market expansion, and customer experience; however, long-term sustainability requires stronger governance frameworks, regulatory harmonization, and enhanced risk mitigation strategies. Future studies should integrate cross-country comparisons and empirical testing of digital trading performance models. Novelty/Originality of this article: This study provides an updated thematic mapping of digital bullion trading research using an RSLR-PRISMA approach, offering strategic insights that connect technological innovation, regulatory dynamics, and sustainability of bullion trading ecosystems.
Revisiting gold as a stable, safe haven: Trends, insights, and paths to sustainability William Ben Gunawan
EcoProfit: Sustainable and Environment Business Vol. 4 No. 1: July (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v4i1.2026.3525

Abstract

Background: Gold has long been regarded as a safe haven asset capable of preserving value during periods of financial instability, geopolitical tension, and economic uncertainty. However, recurring global crises, the emergence of alternative assets, and the growing emphasis on sustainability have renewed debates regarding gold’s contemporary relevance and stabilising role. This study aims to revisit and synthesise the scholarly literature on gold as a stable safe haven, with particular attention to its evolving contribution to long-term financial sustainability and systemic resilience. Methods: Employing a mixed-methods design, the study combines bibliometric analysis of Scopus-indexed publications with a qualitative narrative literature review. Bibliometric mapping is used to identify publication trends, influential countries and journals, thematic clusters, and temporal evolution, while the literature review provides in-depth interpretation of dominant findings, methodological approaches, and emerging sustainability perspectives. Findings: The results indicate that gold remains the most consistently studied and empirically supported safe haven asset, particularly during periods of extreme market stress, pandemics, and heightened geopolitical risk. However, its hedging and safe haven properties are shown to be conditional, varying across market regimes, crisis phases, and regional contexts. The literature further suggests that gold’s relevance is increasingly framed within broader sustainability and resilience narratives, emphasising its role in mitigating tail risk rather than delivering constant returns. Conclusion: Overall, the study concludes that gold continues to play a central, albeit conditional, role in enhancing portfolio resilience and financial system stability. These findings contribute to a more nuanced understanding of gold’s function within sustainable finance and offer insights for researchers, investors, and policymakers concerned with long-term economic resilience. Novelty/Originality of this article: This article offers a novel contribution by integrating bibliometric mapping with a comprehensive narrative literature review to systematically trace the evolution of gold safe haven research while explicitly reframing gold’s role within long-term financial sustainability and systemic resilience.
Digitalization of gold pawn services as an inclusive financial innovation strategy Alda Fildza Amima; Ahmad Wildan Raikhana; Rafidah Rizky Nasution
EcoProfit: Sustainable and Environment Business Vol. 4 No. 1: July (2026)
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/ecoprofit.v4i1.2026.3528

Abstract

Background: The rapid development of digital finance has fundamentally transformed the delivery of financial services and opened new opportunities for expanding financial inclusion while contributing to sustainable business transformation. In Indonesia, gold pawn (rahn) services play a strategic role as a microfinance instrument for unbanked and underbanked communities. However, existing studies on gold pawn services largely focus on operational efficiency and regulatory compliance, with limited attention to digitalization as an inclusive financial innovation strategy. Methods: This study employs a qualitative descriptive approach using a literature review method. Data were collected from national and international academic journals, regulatory documents issued by the Financial Services Authority (Otoritas Jasa Keuangan, OJK) and Bank Indonesia, and institutional publications related to digital finance, gold pawn services, microfinance, and financial inclusion. The analysis was conducted through thematic identification, conceptual categorization, and critical narrative analysis. Findings: The findings indicate that the digitalization of gold pawn services represents an institutional transformation rather than a mere technological upgrade. Digital platforms have enhanced access to microfinance by reducing geographical and administrative barriers, improving transaction efficiency, increasing transparency, and expanding service reach to micro-enterprises and younger digital-oriented users, while simultaneously reducing the environmental footprint associated with paper-based and branch-dependent pawn transactions. Nevertheless, several challenges persist, including digital literacy gaps, data security risks, public trust issues, regulatory readiness, and the risk of digital exclusion. Conclusion: Digitalization of gold pawn services has significant potential as an inclusive financial innovation strategy, provided that it is embedded within a comprehensive institutional framework that prioritizes accessibility, consumer protection, environmental efficiency, and governance. Novelty/Originality of this article: This study contributes to the literature by positioning digitalization of gold pawn services as a strategic instrument for sustainable financial inclusion, offering an institutional and inclusive perspective aligned with green microfinance transformation that goes beyond efficiency-oriented approaches.

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