Development of Green Banking in Sustainable Financing: An Analysis of Challenges And Opportunities for Sharia Banking in Indonesia
Abstract
This study aims to examine the development of green banking within the framework of sustainable financing in Islamic Financial Institutions in Indonesia, particularly Islamic banking, using a journal mapping method. The phenomenon of global climate change and the growing awareness of sustainability have encouraged the financial sector, including Islamic banks, to adopt environmentally friendly policies. As financial intermediaries, banks play a strategic role in channeling financing to industries and communities by implementing the concept of green banking.
Sustainable financing seeks to support development that meets present needs without compromising environmental preservation for future generations. Moreover, green banking serves as an essential instrument in supporting Indonesia’s commitment to reducing carbon emissions through the promotion of environmentally friendly technologies and green financing initiatives.
This research focuses on identifying the gaps in the implementation of green banking as well as analyzing the challenges and opportunities faced by the Islamic banking sector in realizing a more sustainable financial system. Based on the analysis of various scientific journals, the study finds that the adoption of green banking in Islamic banking holds significant potential to contribute to the achievement of Sustainable Development Goals (SDGs) and maqashid sharia. However, several barriers remain, including the lack of specific regulations, low literacy in green financing, and limited human resource readiness. As strategic solutions, this study recommends strengthening regulatory frameworks, enhancing human resource capacity, digitalizing green financing systems, and fostering collaboration between Islamic financial institutions and regulatory authorities.
Keywords: Green Banking, Sustainable Financing, Challenges, Opportunities.
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