The energy crisis started because of the war between Russia and Ukraine and European countries’ imposition of economic sanctions. Russia supplies 40% of gas and 25% of crude oil to most European countries. In retaliation for the sanctions, Russia required the purchase of its gas and oil in its ruble. However, this policy was rejected by European countries, resulting in reduced energy supply as the price of gas and oil rose. European countries are trying to reduce Russia’s energy dependence by looking for environmentally friendly energy alternatives. As the first step, European countries increase the budget for developing environmentally friendly energy. This paper use data from the European Commission (EC), Eurostat, Greenmatch, and the World Bank. The author finds that European countries have increased the budget for developing and using environmentally friendly energy to remove the dependence on gas and oil energy from Russia. European countries believe that environmentally friendly energy can become the primary energy resource in the future.

<p>Islamic crowdfunding is a crowdfunding platform designed to comply with Islamic principles, a collective effort to collect/raise funds to fund projects (including startups), provide financing for personal or business, and other needs through an internet platform following Islamic principles. As a country with the largest Muslim population globally, Indonesia sees this as an excellent opportunity to support its economic development. In this regard, the purpose of this article is to find out how the Islamic Crowdfunding opportunity is an alternative solution to Islamic funding in support of the Indonesian Islamic Economic Masterplan (MEKSI). Based on data from the Ministry of Finance (Kemenkeu) through the 5th Annual Islamic Finance Conference (AIFC), Islamic Fintech assets in Indonesia grew to reach 134 billion rupiahs in June 2021, representing 3 percent of total fintech assets in Indonesia. From this data, it can be interpreted that the opportunity for Islamic Crowdfunding, which is one of the products of Islamic Fintech as alternative funding, is still very wide open. Using SWOT analysis, we find in this paper that Islamic Crowdfunding could be an alternative to Islamic funding in Indonesia. Therefore, it is expected that the government and related agencies, especially the Financial Services Authority (OJK), can take the right steps in managing Islamic crowdfunding. It is also expected that Muslims can participate in campaigning or supporting the Indonesian Islamic Economic Masterplan (MEKSI) through Islamic Crowdfunding.</p>

Indonesia’s total area of forest and waters is around 130.68 million hectares, but it consistently decreases yearly. The illegal land clearing for agricultural activity is considered as the main cause of the forest reduction, as around 5.6 million hectares of land burned between 2015 and 201 and it costs of hundreds of trillions to the country. In order to lessen the negative impacts of land clearing, Indonesian government indeed has started to promote a green economy campaign, known as sustainable development with an environmental perspective. This study aims to examine the relationship between illegal land clearing and its effect on the Indonesian economy and its relationship with the green economy campaign initiated by the Indonesian government. We use the data from the Indonesian Ministry of Environment and Forestry, Central Bureau of Statistics, Greenpeace Indonesia, and World Bank to analyze this issue. We find that the governments’ poor regulation and monitoring have caused forest and land fires almost every year and it has huge economic and environmental costs that should be paid by the government. Therefore, a strong law enforcement is needed so that the green economy campaign in Indonesia can be executed properly.