GREEN ISLAMIC FINANCE: A CONTRIBUTION TO SUSTAINABLE DEVELOPMENT AND THE ENVIRONMENT

Abstract

This article examines in depth the contribution of Green Islamic Finance (GIF) in promoting the realization of sustainable development and environmental conservation efforts. The purpose of this study is to critically evaluate the role of Green Islamic Finance (GIF) in achieving sustainable development goals, examine its efficiency and effectiveness in promoting environmental conservation efforts, and explore and analyze potential obstacles and opportunities that could arise in the implementation process. The methodological approach of this study combines qualitative and quantitative analysis techniques. The results of this study show that Green Islamic Finance (GIF) has significant capabilities in facilitating financing for environmentally friendly initiatives. GIF also plays an important role in fostering innovation in financial products and services, as well as promoting economic inclusiveness, the integration of ecological principles with Islamic finance frameworks also makes an important contribution to climate change mitigation efforts and encourages sustainable economic growth. This research makes an important contribution to the existing literature by presenting strong empirical evidence on the effectiveness of Green Islamic Finance (GIF) in addressing environmental challenges and promoting sustainable development goals. The research highlights the synergies between Islamic finance principles and environmental sustainability, and emphasizes the importance of integrating ethical and environmental considerations in financial practices to achieve a sustainable future.