Do Global Green Sukuk affect on Climate Change? Evidence in Issuing Countries


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Authors

  • Suriani Suriani Faculty of Economics and Business, Universitas Syiah Kuala, Indonesia
  • Raja Masbar Faculty of Economics and Business, Universitas Syiah Kuala, Indonesia
  • Maulidar Agustina Faculty of Economics and Business, Universitas Syiah Kuala, Indonesia
  • Athalla Daffa Khairul Faculty of Economics and Business, Universitas Syiah Kuala, Indonesia

DOI:

https://doi.org/10.32479/ijeep.14987

Keywords:

Green Economy, Climate Change, Global Green Sukuk, Economic Growth, Trade Openness

Abstract

Uncertain climate change as a result of technological developments, often has a negative impact on the environment. This is shown by the number of carbon emissions that are continuously increasing. As a sovereign country, the issuing country of Green Sukuk Global strives to increase investment to support a sustainable development process. This study aims to analyze the effect of green finance, specifically on global green sukuk, on the adverse effects of climate change. Using time series data in four issuing countries (from January 2018 until December 2022) with an autoregressive distributed lag in the panel model approach. The findings show that in the long and short term, global green sukuk can reduce the adverse effects of climate change in the issuing country. However, economic growth affects increasing carbon emissions in the issuing country in the long term, while trade openness has no effect on climate change. To support sustainable economic development as evidenced by increased economic growth, it must be balanced with increased issuance of global green sukuk financing issues to reduce the adverse effects of climate change in issuing countries.

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Published

2024-01-15

How to Cite

Suriani, S., Masbar, R., Agustina, M., & Khairul, A. D. (2024). Do Global Green Sukuk affect on Climate Change? Evidence in Issuing Countries. International Journal of Energy Economics and Policy, 14(1), 98–107. https://doi.org/10.32479/ijeep.14987

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