Integrating Maqashid al-Shariah into Sustainable Investment Instruments: A Conceptual Framework for the Green Economy Era
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Green Economy , Maqashid Al-Shariah, Sustainable
Abstract
The green economy era demands a transformative shift in investment paradigms toward sustainability, ethics, and socio-environmental responsibility. Within this context, integrating Maqashid al-Shariah—the higher objectives of Islamic law—into sustainable investment instruments emerges as both a normative imperative and strategic framework. This conceptual study aims to develop a framework that aligns the five core objectives of Maqashid al-Shariah—protection of religion, life, intellect, progeny, and wealth—with sustainability principles, particularly in green sectors such as renewable energy, eco-friendly technologies, and the circular economy. Using a qualitative approach based on literature review, the study explores the compatibility between Islamic ethical foundations and global Environmental, Social, and Governance (ESG) criteria in investment practices. The proposed framework demonstrates that embedding maqashid-oriented values enhances both the ethical legitimacy and spiritual coherence of sustainable investments while offering a reformative pathway for Islamic finance to address global ecological and social challenges. This paper contributes to the discourse on designing progressive and contextually relevant Shariah-compliant investment instruments in the green economy era.
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Copyright (c) 2025 Deni Maulana, Ali Khan, Shakib Ahmed
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