THE EXISTENCE OF GREEN SUKUK IN INDONESIA: AN ANALYSIS OF YŪSUF AL-QARAḌĀWĪ'S ENVIRONMENTAL FIQH

Linda Amala Udzma, Mohammad Muqronul Faiz

Abstract


Green sukuk is present as a sharia investment instrument for project financing that supports environmental conservation efforts and the achievement of sustainable development in Indonesia. The existence of green sukuk has continued to increase since its inception in 2018 until now. Meanwhile, environmental fiqh is present to answer the problems that include environmental issues. Furthermore, how does environmental fiqh view the concept of an environmentally based economy such as green sukuk ? Starting from this question, this study aims to analyze the existence of Green sukuk in Indonesia from the perspective of environmental fiqh Yūsuf al-Qaraḍāwī . The method used in this study is qualitative-descriptive with a conceptual approach. The results of this study indicate that Green sukuk according to 2019-2023 data contributes to financing five green sectors including: climate change, renewable energy, energy efficiency, waste management and sustainable transportation. The existence of green sukuk is in line with the environmental ethics of Yūsuf al-Qaraḍāwī , which is contained in the ri'ayah al -biah, namely on the concept of environmental preservation. Yūsuf al-Qaraḍāwī emphasized that all forms of development must be environmentally friendly and follow the principles of compassion and care. This study also found that the concept of environmental protection can be influenced by other aspects such as sustainable economics.


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References


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