Uji Krisis Green Finance Terhadap Risiko Climate Change Di Indonesia
DOI:
https://doi.org/10.35968/mpu.v16i2.1985Keywords:
green finance, crisis, banking, climate change, riskAbstract
Krisis green finance menjadi acaman serius secara global, termasuk Indonesia. Penelitan ini menguji kemampuan ketahanan ekosistem keuangan dan ekosistem lingkungan secara bersamaan, yang diakibatkan oleh pengaruh perubahan iklim berdasarkan kinerja sektor perbankan. Melalui data laporan tahunan Bank Indonesia tahun 2015 - 2025, selanjutnya diolah menggunakan E views berdasarkan model Ed Waves Index, menunjukkan bahwa semua elemen intenal (simpanan dan kredit) dan elemen ekstenal (inflasi dan nilait tukar) memberikan efek positif terhadap krisis green finance, yang mengakibatkan pertumbuhan perekonomian mengalami perlambatan. Disisi lain, elemen suku bunga tidak memberikan pegaruh pada krisis green finance, sehingga stabilitas keuangan di Indonesia tidak terganggu. Oleh karena itu, penelitian ini dapat dijadikan patokan bagi Bank Indonesia maupun sektor perbankan dalam mengendalikan perilaku keuangan yang dapat mengancam pertumbuhan perekonomian melalui krisis green finance, meskipun sistem keuangan di Indonesia di dukung dengan stabilitas keuangan yang kuat secara berkelanjutan.References
Acharya, V., & Steffen, S. (2020). “Stress Test” for Banks as Liquidity Insurers inatimeof COVID, 2 19 March 2020. March, 1–8.
Adam, K., & Padula, M. (2011). Inflation Dynamics and Subjective Expectations intheUnited States. Economic Inquiry, 49(1), 13–25. https://doi.org/10.1111/j.1465-7295.2010.00328.x
Agénor, P. R., McDermott, C. J., & Prasad, E. S. (2000). Macroeconomic FluctuationsinDeveloping Countries: Some Stylized Facts. In World Bank Economic Review(Vol. 14, Issue 2, pp. 251–285). https://doi.org/10.1093/wber/14.2.251
Akomea-Frimpong, I., Adeabah, D., Ofosu, D., & Tenakwah, E. J. (2022). Areviewofstudies on green finance of banks, research gaps and future directions. Journal ofSustainable Finance and Investment, 12(4), 1241–1264. https://doi.org/10.1080/20430795.2020.1870202
Albulescu, C. T., Goyeau, D., & Pépin, D. (2013). Financial Instability and ECBMonetaryPolicy. Economics Bulletin, 33(1), 388–400.
Baharudin, B. S., & Arifin, Z. (2023). The Effect of Green finance on Bank Value: aCasefrom Indonesia. Journal of Social Research, 2(8), 2817–2825. https://doi.org/10.55324/josr.v2i8.1354
Basmar, E., Campbell, C. M., & Fachmi, M. (2024). The Green EconomyCrisisTurbulence and the Reaction of Finance Distribution in Indonesian Banking. International Journal of Sustainable Development and Planning, 19(11), 4239–4250. https://doi.org/10.18280/ijsdp.191113
Basmar, E., III, C. M. C., & Basmar, E. (2021). Is an Indonesia the right investment environment after Covid-19? IOP Conference Series: Earth and Environmental Science, 737(1). https://doi.org/10.1088/1755-1315/737/1/012021
Borio, C. (2012). The financial cycle and macroeconomics: What have we learnt?BISWorking Papers No 395. ISSN 1682-7678 (online). BIS Working Papers, 395.
Borio, C., Furfine, C., & Lowe, P. (2001). Procyclicality of the financial sistemandfinancial stability: issues and policy options. BIS Papers Chapters, 01(1), 1–57. http://ideas.repec.org/h/bis/bisbpc/01-01.html
Caggiano, G., Castelnuovo, E., Delrio, S., & Kima, R. (2021). Financial uncertaintyandreal activity: The good, the bad, and the ugly. European Economic Review, 136, 103750. https://doi.org/10.1016/j.euroecorev.2021.103750
Caldara, D., Fuentes-Albero, C., Gilchrist, S., & Zakrajsek, E. (2016). TheMacroeconomic Impact of Financial and Uncertainty Shocks. International FinanceDiscussion Paper, 2016(1166), 1–41. https://doi.org/10.17016/ifdp.2016.1166
Chen, C., Zhang, Y., Bai, Y., & Li, W. (2021). The impact of green credit on economicgrowth-The mediating effect of environment on labor supply. PLoS ONE, 16(9September), 1–21. https://doi.org/10.1371/journal.pone.0257612
Chen, J., Siddik, A. B., Zheng, G. W., Masukujjaman, M., & Bekhzod, S. (2022). TheEffect of Green Banking Practices on Banks’ Environmental Performance andGreenFinancing: An Empirical Study. Energies, 15(4), 1–22. https://doi.org/10.3390/en15041292
Chen, M., Song, L., Zhu, X., Zhu, Y., & Liu, C. (2023). Does Green finance PromotetheGreen Transformation of China’s Manufacturing Industri? Sustainability(Switzerland), 15(8). https://doi.org/10.3390/su15086614
Chen, Z., Mirza, N., Huang, L., & Umar, M. (2022). Green Banking—Can Financial Institutions support green recovery? Economic Analysis and Policy, 75, 389–395. https://doi.org/10.1016/j.eap.2022.05.017
Claessens, S., Kose, M. A., & Terrones, M. E. (2011). How Do Business and Financial Cycles Interact?; by Stijn Claessens, M. Ayhan Kose and Marco E. Terrones; IMFWorking Paper 11/88; April 1, 2011. Journal of International Economics, 97, 178–190. https://www.imf.org/external/pubs/ft/wp/2011/wp1188.pdf
Claudio Borio, C. F. and P. L. (2001). Crises and contagion: the role of the bankingsistem. In Marrying the macro- and microprudential stability dimensions of financial (Issue1).
Cuciniello, V., & di Iasio, N. (2021). Determinants of the Credit Cycle: AFlowAnalysisof the Extensive Margin. SSRN Electronic Journal, 2445. https://doi.org/10.2139/ssrn.3924740
Dikau, S., & Volz, U. (2021). Central bank mandates, sustainability objectives andthepromotion of green finance. Ecological Economics, 184(August 2020), 107022. https://doi.org/10.1016/j.ecolecon.2021.107022
El Karfi, K., & Mentagui, D. (2020). Monetary policy and financial stability. Journal ofAdvanced Research in Dynamical and Control Sistems, 12(5 Special Issue), 1453–1459. https://doi.org/10.5373/JARDCS/V12SP5/20201905
Evgenidis, A., & Malliaris, A. G. (2022). Monetary policy, financial shocks and economicactivity. Review of Quantitative Finance and Accounting, 59(2), 429–456. https://doi.org/10.1007/s11156-022-01045-z
Fathihani, Saputra, J., Haat, M. H. C., Yusliza, M. Y., Muhammad, Z., &Bon, A. T. (2021). A review of sustainable green finance literature: Mini-reviewapproach. Proceedings of the International Conference on Industrial EngineeringandOperations Management, 3194–3207.
Fattorini, L., Ghodsi, M., & Rungi, A. (2018). Financial Cycles Around The World. Working Paper Series Econstor, 145.
Gao, K., Chen, H., Tian, S., Sun, R., Cui, K., & Zhang, Y. (2023). A nexus betweengreendigital finance and green innovation under asymmetric effects on renewable energymarkets: a study on Chinese green cities. Environmental Science and PollutionResearch, 46632–46646. https://doi.org/10.1007/s11356-022-24750-7
Goetz, M. R., & Gozzi, J. C. (2020). Financial Integration and the Co-Movement ofEconomic Activity: Evidence from U.S. States. International Finance DiscussionPaper, 2020(1305), 1–57. https://doi.org/10.17016/ifdp.2020.1305
Guang-Wen, Z., & Siddik, A. B. (2023). The effect of Fintech adoption on greenfinanceand environmental performance of banking institutions during the COVID-19pandemic: the role of green innovation. Environmental Science and PollutionResearch, 30(10), 25959–25971. https://doi.org/10.1007/s11356-022-23956-z
Guerrieri, V., Lorenzoni, G., Straub, L., & Werning, I. (2022). Can negative supplyshockscause demand shortages? American Economic Review, 112(5), 1437–1474. http://www.nber.org/papers/w26918
Hamouda, F. (2021). Identifying economic shocks with stock repurchase programs. Cogent Economics and Finance, 9(1). https://doi.org/10.1080/23322039.2021.1968112
Hossain, A. (2020). The Effects of Green Banking Practices on Financial PerformanceofListed Banking Companies in Bangladesh. Canadian Journal of Business andInformation Studies, November, 120–128. https://doi.org/10.34104/cjbis.020.01200128
Islam, M. A., Yousuf, S., Hossain, K. F., & Islam, M. R. (2014). Green financinginbangladesh: Challenges and opportunities - A descriptive approach. International Journal of Green Economics, 8(1), 74–91. https://doi.org/10.1504/IJGE.2014.064469
Jermann, U., & Quadrini, V. (2012). Macroeconomic effects of financial shocks. AmericanEconomic Review, 102(1), 238–271. https://doi.org/10.1257/aer.102.1.238
Kamran, H. W., Haseeb, M., Lecturer, S., Nguyen, V. C., & Nguyen, T. T. (2020). ClimatechangeAnd Bank Stability : The Moderating Role Of Green FinancingAndRenewable Energy Consumption In ASEAN Hafiz Waqas Kamran , Assistant Professor , Faculty of Business Administration , Iqra Muhammad Haseeb, SeniorLecturer , Faculty of Busine. 12(2), 3738–3751. https://osf.io/preprints/v48fa/%0Ahttps://osf.io/v48fa/download
Khalatur, S., & Dubovych, O. (2022). Financial Engineering of Green finance asanElement of Environmental Innovation Management. Marketing and Management ofInnovations, 1(1), 232–246. https://doi.org/10.21272/mmi.2022.1-17
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 JURNAL ILMIAH M-PROGRESS

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.



