Macroeconomic drivers of CO₂ emissions reduction in a transition economy: From residential extrapolation to municipal policy scaling

Green Sukuk is a source of financing that supports the SDGs. Climate change, the growth of the Islamic finance industry, and the rise of socially responsible investing could make green Sukuk a vital tool for financing clean energy and sustainable infrastructure projects. Many studies have identified its potential and advantages. However, no companies have issued green corporate Sukuk in Indonesia yet. The purpose of this study is to determine the potential and main problems of issuing corporate green Sukuk in Indonesia, along with possible solutions and strategies. The research method used is the analytic network process (ANP). In this study, respondents are experts in the field of green Sukuk (involved experts were from academia, project actors, and regulators). The results of the study indicate that the first destination that has the potential to be financed with green corporate Sukuk is renewable energy. At the same time, the main problem is the lack of understanding from market participants. In terms of solutions, the incentive provided by the government is the best to encourage the issuance of green corporate Sukuk. Moreover, the first strategy is to issue green corporate Sukuk with ijarah contracts. From the research results, it is hoped that the Indonesian government can be more aggressive in providing incentives to green project actors.

This paper reviews the literature on energy consumption behavior for both domestic and migrated/displaced population and aims to recommend crucial policy measures for creating awareness on the energy efficiency. Consumers’ adoption to the efficient usage of energy varies depending on demographic, behavioral and situational dynamics in their households and societies. The regional or national strategies to implement efficient technologies for the consumer engagement are crucial to change their behaviors. Migrants affect the energy usage patterns in the host country due to their different usage behaviors. Any type of measures for migrated population should include available, acceptable, accessible and affordable energy efficiency applications to engage them with the domestic population.

The article analyzes the role of universities, assessed through the prism of the UI GreenMetric World University Rankings (UI GreenMetric) methodology, in ensuring energy efficiency and sustainability of the national economy. For this purpose, UI GreenMetric results, systematized by country and region, were used, as well as data for 2017–2022 on countries’ progress in achieving SDG 7 and the national level of primary energy intensity. The analysis of trends in the development of sustainable universities according to UI GreenMetric shows regional differences: on average, the highest scores in the ranking are given to universities in OECD countries and East and South Asia, and the lowest – to Sub-Saharan Africa and Eastern Europe & Central Asia. A positive correlation (from 13.9% to 18.7% of the variation) was found between the activities of universities and the countries’ progress in achieving SDG 7, as well as a negative correlation with the energy intensity of the level of primary energy of these countries; this proves the participation of higher education institutions in ensuring the energy efficiency of national economies (the level of influence is much lower, the explanation of model variations is 2.4%-8.2%). The role of universities is not only to develop green campuses but also to increase research, create new educational programs, develop cross-sectoral cooperation and ‘living laboratories’ to implement sustainable development practices, and train future leaders capable of overcoming global energy challenges.