Green Sukuk untuk Pembangunan Berkelanjutan dan Perlindungan Kehidupan: Analisis Komparatif Regulasi Dalam Perspektif Hifzh An-Nafs
DOI:
https://doi.org/10.33511/almizan.v10n1.27-49Keywords:
Green sukuk, sustainable development, hifzh al-nafs, maqasid al-shariah, Islamic financial regulationAbstract
Green sukuk has emerged as an innovative Islamic financial instrument that supports sustainable development financing while addressing environmental degradation and climate change challenges. This article was written to analyze and compare the regulatory frameworks governing green sukuk in Indonesia and Malaysia from the perspective of Hifzh al-Nafs (the protection of life) as one of the fundamental objectives of Maqasid al-Shariah. The article employs normative legal research using comparative law and conceptual approaches. The analytical findings indicate that Indonesia has developed a relatively comprehensive regulatory framework through Islamic capital market regulations, sharia fatwas, and the Green Sukuk Framework, which support sovereign green sukuk issuance. In contrast, Malaysia demonstrates greater advancement in the development of corporate green sukuk through the implementation of the Sustainable and Responsible Investment Sukuk Framework and Value-Based Intermediation principles. From the perspective of Hifzh al-Nafs, green sukuk contributes to the protection of human life by financing renewable energy projects, climate change mitigation initiatives, and sustainable infrastructure that promote public health, environmental quality, and social welfare. These findings imply the necessity of regulatory strengthening, enhanced impact-reporting transparency, and regional standard harmonization to maximize the contribution of green sukuk to sustainable development and long-term societal well-being.
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