Sustainable Finance Implementation on Institutional Aspects in Indonesia and the European Union
Asni Mustika Rani (a*), Atih Rohaeti Dariah (a), Popon Srisusilawati (b)

a) Faculty of Economics and Business, Universitas Islam Bandung
Jalan Tamansari No 10, Bandung 40116, Indonesia
*asnimustika[at]unisba.ac.id
b) Faculty of Sharia, Universitas Islam Bandung
Jalan Tamansari No 10, Bandung 40116, Indonesia

Abstract

Realizing sustainable finance practices towards a zero-carbon emission economy requires the support and participation of all stakeholders in various industries, especially regulators from an institutional perspective. Sustainable finance plays a critical role in driving transformative increases in economic growth, steering it firmly towards a sustainable trajectory. This study aims to scrutinize the appropriate institutional elements that can bolster sustainable finance initiatives within both Indonesia and the European Union (EU). This study uses the content analysis method which is an in-depth discussion of the contents of written or printed information in various written media, regulations, laws, and various other documents. From an institutional perspective, both in the EU and Indonesia, the implementation of sustainable finance is in line with the work plan regulated by the regulator. However, there are still technical complexities and regulatory aspects that grow with each delegated action, often due to the need to adapt diverse political views.

Keywords: Institutional Aspects- Sustainable Economic Growth- Sustainable Finance

Topic: Economic Welfare in Terms of Islamic Perspective