Pengaruh Perkembangan Keuangan Terhadap Emisi Co2 Di Indonesia

Madyan, Muhammad; Kusumawardani, Deni; Shidiq, Hasbi Ash

doi:10.35313/ekspansi.v14i2.4536

Cited by 1 publication

(1 citation statement)

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“…According to Le et al (2020), to achieve the fastest possible economic growth, developing countries often rely heavily on cheap and dirty energy sources, most of which are non-renewable. Therefore, developing countries are still very dependent on energy consumption that is not environmentally friendly, so they tend to pay no attention to environmental impacts to increase their economic growth (Madyan et al, 2022). In this case, even though the growth of renewable energy in OIC countries is quite rapid, its role has not been able to replace fossil-based energy sources.…”

Section: Resultsmentioning

confidence: 99%

The impact of Islamic financial development on renewable energy production in Islamic countries

Siswantoro

Mahmud

2023

Asian. J. Islam. Manag.

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Purpose − This study aims to determine the impact of the development of Islamic finance on renewable energy production in Islamic countries. Two variables representing Islamic finance (Islamic financing and Sukuk) and five control variables (economic growth, foreign investment, CO2 emissions, trade openness, and consumer price index) are also studied.Methodology − Ninety-panel data from 10 Islamic countries over a period of 9 years (2013-2021) were analyzed using panel data analysis with the fixed effect model approach.Findings − The results show that Islamic countries with good development of Islamic banking and Sukuk tend to experience an increase in renewable energy production. Other empirical findings show that economic growth, CO2 emissions, and consumer price index are the next variables that affect renewable energy in Islamic countries.Implications − The results of this study have implications for the policies of Muslim countries to further encourage Islamic finance to be channeled into the renewable energy sector. The government should establish a clear regulatory framework for green Islamic investment and financing and if necessary, they are needed to provide incentives to the green investment sector.Originality − Previous studies that directly examine the effect of Islamic financial development on renewable energy are still limited. Most of the previous studies have examined the impact of Islamic financial development on environmental issues such as sustainable development, climate change, or environmental quality

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Section: Resultsmentioning

confidence: 99%