Development of State Green Sukuk as Part of Creative and Innovative Financing in the Islamic Financing Market


Along with the continued issue of green and sustainable development, fundraisers for finance project green is increasing. Principle investments in Islamic finance are combined with a draft-friendly environment and sustainability. The instrument of innovative Islamic finance-based continuity, like Green Sukuk in Indonesia, offers potential and importance for supporting the development economy in line with the effort for protecting the environment. This study aims to know the development of green sovereign Sukuk as part of creative and innovative financial market financing Islamic development. The method used by the author is qualitative, with a review of the literature. Literature research is a way to find relevant references to problems that arise. Research results show that the issuance of green Sukuk is an effort to apply sustainability in Indonesia. Green Sukuk is significant in Indonesia because this is one of the countries with a level of vulnerability and frequent disasters. Tragedy in growing hydrometeorology increases consequence changes, and increasing climate increases consequence development sustainability, which is not noticed in the environment. The continuous neglect of the environment has led to climate change causing droughts and floods which have a detrimental economic impact.

Keywords: Green Sukuk, Islamic financial market, development financing

[1] . Sholihin AI. Buku Pintar Ekonomi Syariah. Jakarta: Gramedia Pustaka Utama; 2013.

[2] Karina LA. Peluang dan tantangan perkembangan green sukuk di Indonesia. Conf Islam Manag Account Econ. 2019;2:259–65.

[3] . Anggraini Y. Peran Green Sukuk Dalam Memperkokoh Posisi Indonesia Di Pasar Keuangan Syariah Global. El-Barka J Islam Econ Bus. 2018;1(2):251.

[4] . Grahesti A, Fahma D, Pramuningtyas E. Green Sukuk : Investasi Hijau Berbasis Syariah dalam Mewujudkan Ketahanan Terhadap Perubahan Iklim di Indonesia. 2022;8(03):3374–82.

[5] . Syahrir KR. Kertas Kebijakan Sukuk Hijau (Green Sukuk). AcademiaEdu [Internet]. 2016;1–30. Available from: Green_Sukuk_Policy_Paper_2016_edK_21122016?auto=citations&from= cover_page

[6] . Direktorat Pembiayaan Syariah Kementerian Keuangan Republik Indonesia. Green Sukuk for Sustainable Development. 2022;(April).

[7] . Suherman, Noor I, Manzilati A. Identifikasi Potensi Pasar Green Sukuk Republik Indonesia. Hum Falah J Ekon dan Bisnis Islam [Internet]. 2019;6(1):37–53. Available from:

[8] . WIFM M. SRI & Green Sukuk: Challenges & prospects. Malaysia Int Islam Financ Cent. 2016;( January):6.

[9] . Reichelt H. Providing Climate Risk Transparency to Financial Markets. 2021;