THE ROLE OF GREEN ECONOMY AS A DRIVER OF SUSTAINABLE BUSINESS
DOI:
https://doi.org/10.30863/al-tsarwah.v8i1.10539Keywords:
Green Economy, sustainable business, Islamic Ethics, environmental sustainability, sustainable development goals (SDGGs)Abstract
This study aims to examine the application of the green economy concept within the framework of sustainable business in Indonesia, focusing on the integration of economic, social, and environmental sustainability principles. It explores how the green economy can serve as a strategic foundation for ethical, inclusive, and environmentally responsible business transformation aligned with sustainable development goals. This study employs a literature review method by analyzing a wide range of academic sources, government policies, and international frameworks related to the green economy and sustainable business practices. Findings reveal that implementing green economy principles contributes to economic growth, while embedding ethical values, social responsibility, and resource efficiency as core foundations of modern business practices. Such integration enhances corporate competitiveness, strengthens reputation, and promotes social welfare through green innovation and sustainable employment creation. Furthermore, Islamic ethics reinforce these practices by promoting fairness, stewardship, and accountability in business operations. The study concludes that the green economy provides a strategic pathway for ethical and sustainable business transformation in Indonesia. Integrating Islamic ethical and spiritual values bridges theory and practice, fostering balanced economic growth, environmental preservation, and social welfare aligned with the triple bottom line of profit, planet, and people.
References
AlHares, A. (2025). Ethical Leadership and Its Impact on Corporate Sustainability and Financial Performance: The Role of Alignment with the Sustainable Development Goals. Sustainability, 17(15), 6682. https://doi.org/10.3390/su17156682
Alwi, M., Ilham, M., & Amir, M. F. (2021). Islamic philanthropy: The idea of economis empowerment of the Ummah of KH Ma’ruf Amin. FITRAH: Jurnal Kajian Ilmu-Ilmu Keislaman, 7(1), 133-154.
Amir Fikri, et al. (2022). Keberlanjutan dalam Perspektif Bisnis dan Inklusifitas. Scopindo Media Pustaka.
Amir, M. F., Kadir, S., & Sumarlin, S. (2024). Decentralized Finance and Its Maslahah: Shaping the Future of Financial Services in Indonesia. Share: Jurnal Ekonomi dan Keuangan Islam, 13(2), 739-769.
Ayuk, E. T., & Njomgang, C. (2022). Editorial: Health in the Green Economy. Frontiers in Environmental Science, 10(September), 1–3. https://doi.org/10.3389/fenvs.2022.975615
D’Amato, D., Droste, N., Allen, B., Kettunen, M., Lähtinen, K., Korhonen, J., … Toppinen, A. (2017). Green, circular, bio economy: A comparative analysis of sustainability avenues. Journal of Cleaner Production, 168, 716–734. https://doi.org/10.1016/j.jclepro.2017.09.053
Dell’Anna, F. (2021). Green jobs and energy efficiency as strategies for economic growth and the reduction of environmental impacts. Energy Policy, 149(November), 112031. https://doi.org/10.1016/j.enpol.2020.112031
Djoko Hananto, et al. (2024). Etika dan Konsep Manajemen Bisnis. Jawa Timur: CV. Duta Sains Indonesia.
Eleonore Loiseau, et al. (2016). Green Economy and Related Concepts: An Overview. Journal of Cleaner Production, 139, 361–371. https://doi.org/https://doi.org/10.1016/j.jclepro.2016.08.024
Georgeson, L., Maslin, M., & Poessinouw, M. (2017). The global green economy: a review of concepts, definitions, measurement methodologies and their interactions. Geo: Geography and Environment, 4(1). https://doi.org/10.1002/geo2.36
Harjoni, H. (2024). Strengthening the Green Economy for Developing Countries through the Implementation of Maqasid Syariah. Islamiyyat, 46(1), 45–55. https://doi.org/10.17576/islamiyyat-2024-4601-04
Hayat, M., & Shoeb, M. (2024). Integrating Islamic Principles With Green Economy: Balancing Economic Growth, Environmental Sustainability, And Social Equity. Library Progress International, 44(3), 23111–23122. Diambil dari www.bpasjournals.comhttp://orcid.org/0000-0003-1274-87131,
IMF. (2024). World Economic Outlook, October 2024: Global Prospects and Policies. In World Economic Outlook.
Indonesia, K. A. R. (2017). Mushaf Famy Bi Syauqin Al-Quran dan Terjemah. Jakarta: Forum Pelayan Al-quran (Yayasan Pelayan Al- Quran Mulia).
Karuppiah, K., Sankaranarayanan, B., & Ali, S. M. (2023). A systematic review of sustainable business models: Opportunities, challenges, and future research directions. Decision Analytics Journal, 8(April), 100272. https://doi.org/10.1016/j.dajour.2023.100272
Katsir, I. I. (2020). Tafsir Ibnu Katsir. Jawa Tengah: Penerbit Insan Kamil Solo.
Kemenkeu. (2024). Memperkuat Ekonomi Nasional di Tengah Siklus Politik Global EDISI I TAHUN 2024.
Leal Filho, W., Viera Trevisan, L., Paulino Pires Eustachio, J. H., Simon Rampasso, I., Anholon, R., Platje, J., … Bonato Marcolin, C. (2024). Assessing ethics and sustainability standards in corporate practices. Social Responsibility Journal, 20(5), 880–897. https://doi.org/10.1108/SRJ-03-2023-0116
López-Cabarcos, et al. (2025). The Ethical Commitment of Business Strategy: ESG-Related Factors as Drivers of the SDGs. Journal of Business Ethics, (0123456789). https://doi.org/10.1007/s10551-025-06002-z
Lozano, R. (2018). Sustainable business models: Providing a more holistic perspective. Business Strategy and the Environment, 27(8), 1159–1166. https://doi.org/10.1002/bse.2059
Mais, F., & Bauernhansl, T. (2024). Design Options for Sustainable and Open Business Models: A Taxonomy-Based Analysis. Sustainability (Switzerland) , 16(11). https://doi.org/10.3390/su16114790
Marileide Barbosa, et al. (2020). Sustainable Strategic Management (GES): Sustainability in small business. Journal of Cleaner Production, 258. https://doi.org/10.1016/j.jclepro.2020.120880
Mirzal, H., Zaki, I., & Bastomi Fahri Zusak, M. (2024). How Does Islam Support the Green Economy? a Study on Turath Perspective. Journal of Islamic Monetary Economics and Finance, 10(4), 657–678. https://doi.org/10.21098/jimf.v10i4.1962
Mulatsih, S. N. (2025). Green intellectual capital and eco-innovation in shaping sustainable financial performance: Evidence from Indonesia. Social Sciences and Humanities Open, 11(February), 101345. https://doi.org/10.1016/j.ssaho.2025.101345
Piwowar-Sulej, K., & Iqbal, Q. (2023). Leadership styles and sustainable performance: A systematic literature review. Journal of Cleaner Production, 382(January 2022), 134600. https://doi.org/10.1016/j.jclepro.2022.134600
Rasyid, S. B. A., Misran, M., & Saputra, H. A. (2024). A Portrait of Green Economy Governance in Sustainable Development in Eastern Indonesia. Jurnal Bina Praja, 16(3), 557–572. https://doi.org/10.21787/jbp.16.2024.557-572
Ren, X., & Mia, M. A. (2025). The determinants of green innovations in manufacturing industries: a systematic literature review. Future Business Journal, 11(1). https://doi.org/10.1186/s43093-025-00461-6
Rezaee, Z. (2016). Business sustainability research: A theoretical and integrated perspective. Journal of Accounting Literature, 36, 48–64. https://doi.org/10.1016/j.acclit.2016.05.003
Sanchez-Planelles, J., Segarra-Oña, M., & Peiro-Signes, A. (2021). Building a theoretical framework for corporate sustainability. Sustainability (Switzerland), 13(1), 1–21. https://doi.org/10.3390/su13010273
Sharma, S. (2024). Sustainable Development in Emerging Economies: the Strategic Importance of Green Finance. ShodhKosh: Journal of Visual and Performing Arts, 5(7), 1334–1341. https://doi.org/10.29121/shodhkosh.v5.i7.2024.5414
Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104(March), 333–339. https://doi.org/10.1016/j.jbusres.2019.07.039
Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif, dan R & D. Alfabeta. Diambil dari https://www.scribd.com/document/391327717/Buku-Metode-Penelitian-Sugiyono
Tziner, A., & Persoff, M. (2024). The interplay between ethics, justice, corporate social responsibility, and performance management sustainability. Frontiers in Psychology, 15(February), 1–13. https://doi.org/10.3389/fpsyg.2024.1323910
UNEP. The green tinge of success: How green innovation can give micro-firms a competitive edge. , 35 Strategic Direction § (2019).
Widyantoro, T., Rusmanto, T., Warganegara, D. L., & Furinto, A. (2025). Enhancing green innovation and financial performance: the role of stakeholder pressures and green dynamic capabilities. Frontiers in Climate, 7(August), 1–11. https://doi.org/10.3389/fclim.2025.1599894
World Health Organization (WHO). (2011). Co-benefits to health of climate change mitigation: occupational health. Health in the green economy, 1–6. Diambil dari http://www.who.int/hia/hgebrief_henergy.pdf%0Ahttp://www.who.int/hia/green_economy/hgebrief_occ.pdf?ua=1
Wulandari, M. M., & Jati, B. K. H. (2023). Examining The Synergy between Al-Mizan Principle in Shariah Economics and Green Economy: A Legal Perspective. Atlantis Press SARL. https://doi.org/10.2991/978-2-38476-164-7_111
Xiao, Y., & Watson, M. (2019). Guidance on Conducting a Systematic Literature Review. Journal of Planning Education and Research, 39(1), 93–112. https://doi.org/10.1177/0739456X17723971
Downloads
Published
How to Cite
Issue
Section
Citation Check
License
Copyright (c) 2025 Andi Lisa Aryani Hamjan, M. Amir HM, Hukmiah Husain, Sitti Nikmah Marzuki
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with Jurnal Ilmiah Al-Tsarwah agree to the following terms:
1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (CC BY-SA 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
