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"The objective of this paper is to redesign the Indonesian pension fund's business model and management system, and develop new strategies to balance profits, affordability, and sustainability. The authors consider the Malaysian pension system and adapt the INTERDAP application used by PT. Angkasa Pura II. Through this qualitative case study, we apply the foundations of the Triangle Syariah Justice Ecosystem (TSJE) to digitize the pension system and support green investment in the long run by modeling the business strategy, facilitating the business model and supplier relationship management, and creating mutually beneficial management among stakeholders. The study found that Malaysia's pension system has an investment purpose, while that of Indonesia only provides pension loans based on previously agreed cumulative contributions. Malaysia encourages people across the country to save on severance funds, and the pension system is still managed conventionally. Malaysia requires a pension contribution of 23 percent of the employee's base salary, while Indonesia requires a meagre 3 percent. This affects the contribution of pension funds to Gross Domestic Product (GDP), with Malaysia's pension fund accounting for 60 percent of GDP but Indonesia’s accounting for only 6 percent. The authors also consider that to become a developed country, pension funds need to reach 60 percent of GDP by 2045, because 42 percent of the total supply of funds in the infrastructure sector originates from pension funds. The practical implications of this study are on access to information, security, and transparency in the management of pension funds through a digital system supervised by the Syariah Regulator, alongside the Indonesian government's efforts to realize support for the green economy."

"Penelitian ini bertujuan untuk mengkaji pengaruh antara investasi hijau dan kinerja keuangan perusahaan sektor energi di Indonesia pada periode 2020–2024. Menggunakan pendekatan kuantitatif berbasis data panel tingkat perusahaan, penelitian ini menguji pengaruh langsung investasi hijau terhadap laba bersih, return on equity (ROE), dan Tobin’s Q. Model yang digunakan mengadopsi kerangka dari Chen dan Ma (2021) dengan analisis regresi OLS. Penelitian ini menggunakan 3 model di mana analisis panel yang digunakan mengunakan Fixed Effect Model (Model 1 dan 2) dan Random Effect Model (Model 3). Hasil penelitian menunjukkan bahwa investasi hijau memiliki pengaruh negatif signifikan terhadap Net Profit. Penelitian ini juga menemukan investasi hijau memiliki pengaruh positif signifikan terhadap ROE. Hasil penelitian ini tidak menemukan pengaruh signifikan investasi hijau terhadap Tobin’s Q. Penelitian ini memberikan kontribusi terhadap literatur mengenai keberlanjutan investasi hijau serta efek kebijakan lingkungan di negara berkembang.

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This study aims to examine the relationship between green investment and financial performance of energy sector companies in Indonesia in the period 2020–2024. Using a quantitative approach based on company-level panel data, this study examines the direct effect of green investment on net income, return on equity (ROE), and Tobin's Q. The model used adopts the framework from Chen and Ma (2021) with OLS regression analysis. This study uses 3 models in which the panel analysis method uses Fixed Effect Model (Model 1 and 2) and Random Effect Model (Model 3). The results show that green investment has a negative significant effect on Net Profit. The Result also shows green investment has a positive significant effect on ROE. The result does not find any significant effect of green investment on Tobin’s Q. This study contributes to the literature on the sustainability of green investment and the effects of environmental policies in developing countries. "