Green Sukuk Issuance as an Investment Instrument for Sustainable Development

DOI

10.2991/assehr.k.200306.189How to use a DOI?

Keywords

sukuk, green sukuk, Green Bond, sustainable development

Abstract

Indonesia’s ratification of Paris Agreement through Law No. 16/2016 in October 2016 shows the commitment of the Indonesian government to prevent adverse impacts of climate changes. Such commitment, however, requires a huge sum of funding. Indonesia, as the country with the biggest Muslim population, lead the world to fund the environmentally-friendly project with the issuance of the first sovereign green sukuk. Green sukuk is a unique product that must meet sharia-compliance and green compliance. Currently sharia-compliance of sukuk green refers to OJK regulation number 3/Pojk.04/2018, regarding issuance and sukuk requirements, while green compliance refers to OJK regulation number 60/Pojk.04/2017, concerning the issuance and debt securities requirements environmentally friendly (Green Bond). However, because of its uniqueness which must fulfil both types of compliance, it is necessary to examine whether a new regulation is needed, specifically to regulate this green sukuk. This study used a juridical-normative method to study the issuance of green sukuk in terms of law and concept. Therefore, the purposes of this research are to review the laws and schemes in the collaboration. The research concludes: first, the green criteria of the Indonesian green sukuk, and, second, the sharia criteria of the Indonesian green sukuk.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Imam Arifiadi Ramadhan
AU  - Wirdyanigsih
PY  - 2020
DA  - 2020/03/13
TI  - Green Sukuk Issuance as an Investment Instrument for Sustainable Development
BT  - Proceedings of the International Conference on Law, Governance and Islamic Society (ICOLGIS 2019)
PB  - Atlantis Press
SP  - 95
EP  - 98
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.200306.189
DO  - 10.2991/assehr.k.200306.189
ID  - Ramadhan2020
ER  -