Search

This paper's main objective is to investigate the effect of stock market growth and green energy on GHG emissions. Further, this research empirically analyzes the effects of renewable energy consumption on CO2 emissions in the EKC hypothesis using data from BRICS countries (China, India, Russia, Brazil, and South Africa) from 1990 to 2019. The empirical analysis was carried out on the second-generation unit root test. The bootstrap panel integration method is used to verify long-term equilibrium connections between elements of all four models. The empirical results confirm a significant long-run flexibility study's findings that green energy improves environmental circumstances by lowering carbon pollution levels across the panel regions. Additionally, renewable energy consumption significantly decreases carbon dioxide emissions and increases financial output through the panels. Instead, the stock market expansion index fell carbon pollution in BRICS countries while increasing carbon pollution in India member country. In general, fixed capital formation and economic expansion degrade environmental quality by rising carbon pollution concentrations. This paper's results have significant and effective policy implications for promoting renewable energy consumption sources to help reduce CO2 emissions and ensure sustainable economic growth in the BRICS nations. [ABSTRACT FROM AUTHOR]

In this paper, we assess the effects of fiscal policy on load capacity factor using data spanning from 1990 to 2018 in BRICS nations (Brazil, Russia, China, India, and South Africa). Unlike both CO2 emissions and ecological footprint, the load capacity factor captures both the demand and supply sides of the environment. This research leverages on co-integration test, second-generation unit root tests, and the novel panel nonlinear autoregressive distributed lag (PNARDL). The results revealed that the major contributors to environmental deterioration are economic expansion and nonrenewable energy, while environmental sustainability is attributed to increased renewable energy. Furthermore, a positive shock in taxation revenue increases the quality of the environment while positive (negative) shocks in government expenditure decrease environmental quality. In affirming the PNARDL testing approach findings, the current study employed the pool mean group (PMG) and mean group (MG) estimators to assess the linkage between the independent and dependent variables. The results of the MG and PMG estimators align with the panel nonlinear ARDL results. Besides, the panel causality test also revealed unidirectional causality from renewable energy, nonrenewable energy, economic growth, government expenditure, and taxation revenues to load capacity factor. These findings affirm the findings of the PNARDL testing approach. The study suggests that the BRICS nations' governments should use the fiscal policy to enhance ecological sustainability by promoting investment and projects in renewable sources. [ABSTRACT FROM AUTHOR]

The importance of using renewable energy (RE) sources has increased significantly in recent times, especially considering the growing concerns about climate change problems and rising fossil fuel prices, which pose a significant threat to the national economies. Therefore, empirical studies that can be used both domestically and internationally in harmony can be created in line with rising investments in RE. However, there has no more analysis of RE investments from the viewpoint of investors in the literature up to this point, and it is crucial to highlight the best investor practices when deploying RE. This research provides theoretical and empirical support for the factors influencing RE investments; used in this analysis are newly constructed panel data on 34 OECD countries and the 5 BRICS countries that range from 2000 to 2020. Specifically, the generalized moment method (GMM), robustness check, fixed and random effects models, panel unit testing, and other panel regression techniques were employed in the study to analyze the determinants of RE investment. The main findings of this paper suggest that economic growth, RE policy, and R&D expenditures all have a statistically significant and positive relationship with RE capacity. Furthermore, RE investment is inversely relative to energy use, electricity use, and carbon (CO2) emissions. As a result, rigorous governmental or state regulation (policy, R&D) is essential for RE investment. [ABSTRACT FROM AUTHOR]

The BRICS region has considered achieving environmental sustainability a top priority in terms of policy. Environmental distress is mostly brought on by the region's continued reliance on fossil fuels to supply local energy needs. Besides, the region has historically been a significant importer of fossil fuels, making it difficult to substantially reduce the region's reliance on them. As a result, the BRICS nations' greenhouse gas (GHG) emission rates have steadily increased over time. Moreover, the region offers vast untapped amounts of renewable energy sources that may be used to generate power without adversely harming the environment. In light of this, this paper examines the combined effects of green finance (GFN) and financial technology (fintech) in achieving the region's carbon neutrality goals from 1990 to 2020, while controlling for energy innovation, economic growth and natural resources rent. The results for the BRICS economies, which are supported by the EKC hypothesis, suggest that GFN, fintech and energy innovation (ENI) promote environmental sustainability. However, natural resources rent (NRR) and economic growth (GDP) degrade environmental quality. Additionally, it has been shown that the bidirectional causality exists between CO2 emissions and GFN, fintech, and NRR. However, GDP and ENI have been shown to exhibit unidirectional causality with CO2 emissions. Based on the empirical findings, it is suggested that the BRICS countries should speed up the development of green financial products and expand the ability of banks and financial institutions to provide green credit facilities, and put into the research on the usage of GFN solutions. [ABSTRACT FROM AUTHOR]

This paper investigates the intricate interplay between carbon emissions and foreign direct investment within the context of Brazil, Russia, India, China, and South Africa (BRICS) for the period spanning 2000 to 2022. In our comprehensive analysis, we incorporate ecological footprint, renewable energy, globalization, and technological innovations as exogenous variables. Employing a system of simultaneous equations across the BRICS panel, we aim to fully elucidate the proposed relationships. Our empirical findings underscore the following key insights: foreign direct investment, technological innovations, and the adoption of renewable energy sources significantly contribute to the mitigation of carbon emissions in these selected nations. However, it is essential to note that ecological footprints exhibit a positive association with carbon emissions, raising concerns on two fronts: escalating environmental degradation and increased land pressure, both of which contribute to rising ecological footprints in BRICS countries. Additionally, our analysis reveals that foreign direct investment is influenced by its capacity to reduce carbon emissions and bolster renewable energy adoption, while globalization amplifies investment trends within the BRICS nations. To address the environmental repercussions of mining activities, it is imperative to implement stringent control and regulation measures, given their potential adverse impacts, including soil pollution, acid mine drainage, erosion, biodiversity loss, excessive water resource consumption, and wastewater disposal challenges. Nevertheless, proactive steps such as recycling mining waste, adopting environmentally friendly mining equipment, combatting illegal mining, and enhancing overall mining sustainability offer promising avenues to mitigate the environmental footprint of mining operations. [ABSTRACT FROM AUTHOR]

With the emerging consciousness of climate change and focus on climate-resilient growth across all developing nations, Brazil has proved to be a benchmark for the energy transition to an environmentally sustainable energy system. All the developing countries are heading towards decarbonised growth using alternative sources of energy. As a result, the paper explores the causal relationship between renewable energy consumption and economic growth in the case of Brazil, using the data for the last 12 years. The Granger causality test is performed to comprehend the relationship between the three crucial indicators of the newly emerging growth models. The paper examines the interdependence of renewable energy and economic growth using the Granger causality test to estimate two-way dependence in BRICS countries. The paper exhibits the evidence of one-sided long-run causality between the use of renewable energy and per capita GDP, concluding that the deployment of renewable energy Granger causes per capita GDP growth. The results of Granger causality and correlations further provide an adequate rationale for the state to invest in renewable energy technologies and innovations. In this backdrop, the paper attempts to analyse India's green growth compared to Brazil in the last 15 years. [ABSTRACT FROM AUTHOR]

Although energy is a necessary component of production and hence a contaminant, the environmental effect varies depending on the type of energy used. Renewable sources of energy can provide ecological advantages, particularly when contrasted with fossil fuels, which emit high levels of CO2 emissions. Thus, the research explores the impact of eco-innovation (ECO), green energy (REC), and globalization (GLOB) on the ecological footprint (ECF) in the BRICS nations using the panel nonlinear autoregressive distributed lag (PNARDL) technique between 1990 and 2018. The empirical results indicate that there is cointegration in the model. The results from the PNARDL show that a positive shift in renewable energy, eco-innovation, and globalization decreases the ecological footprint, while positive (negative) shifts in non-renewable energy and economic growth intensify the ecological footprint. The paper suggests several policy recommendations based on these results. [ABSTRACT FROM AUTHOR]

This paper investigates the effects of carbon emissions, renewable energy consumption, FDI, and exports on economic growth in BRICS countries from 2000 to 2018. The study uses other variables such as interest rates, labor force, trade openness, and gross domestic savings to determine the long-run relationship among variables. We employ several econometric techniques, such as ARDL, pool mean group (PMG), mean group (MG), and the Dumitrescu Hurlin panel causality tests, to draw empirical inferences. The estimation of the PMG model indicates that carbon emissions, renewable energy consumption, exports, FDI, and savings have a significant positive long-run impact on economic growth, while interest rates and trade openness affect economic growth negatively. FMOLS and DOLS results also confirm the robustness of PMG long-run results. Moreover, the Dumitrescu Hurlin panel causality results indicate a bi-directional causal relationship between carbon emissions and economic growth and between economic growth and foreign direct investment, also one-way causality from exports and labor force to economic growth. It implies that an increase in carbon emissions and FDI leads to an increase in economic growth, also increase in economic growth, the CO2 emissions and FDI increase in BRICS economies. Finally, the current study recommends a vital policy that the primary focus should target toward promoting renewable energy consumption, FDI, exports, and savings to boost economic growth in BRICS countries. [ABSTRACT FROM AUTHOR]

The BRICS countries are important contributors to global efforts aimed at preventing a climate catastrophe. These countries account for half of the total emissions generated by the G20 nations. In this context, this paper examines the relationship between total factor productivity (TFP) and CO2 emissions (CE) in BRICS countries from 1996 to 2022, with institutional quality serving as a moderating factor. Moreover, a diverse range of methodologies was employed to address the problem of cross-sectional dependence; i.e., the CS-ARDL technique is used to analyze the relationship between variables in both the long and short-run. The AMG and CCEMG methods are employed for robustness analysis, while the Dumitrescu-Hurlin causality test is used to assess causality. Our empirical analysis demonstrates that TFP is positively associated with CE. Conversely, we find that institutional quality has a negative impact on CE. Furthermore, the study confirms that the interaction between TFP and institutional quality has a negative effect on CE. This implies that an improvement in institutional quality leads to a decrease in CE, as it strengthens the regulatory system governing CE and reduces pollution. Environmental policy must include economic flexibility and policy unpredictability in order to meet CO2 reduction targets. In addition, the study has identified bidirectional causal links between CE and variables such as TFP, institutional quality, and other control variables. According to our study, the BRICS countries should encourage digitalization and renewable energy production while preserving a reasonable standard of institutional quality since they have significant resource advantages in the renewable energy sector. [ABSTRACT FROM AUTHOR]

Despite their economic success, the BRICS countries have yet to achieve environmental sustainability. On the other hand, these countries will not be able to maintain their economic expansion if they do not protect the natural environment. In this regard, this paper intends to assess the effects of financial integration (globalization) on ecological footprint. The paper also considers other ecological footprint drivers, including economic expansion, urbanization, renewable energy and technological innovation. The research utilizes a dataset spanning from 1990 to 2018. The study employed the method of moments quantile regression (MMQR) approach, which is robust to cross-sectional dependence and slope homogeneity issues. The outcomes from the MMQR disclose that the effect of financial globalization on ecological footprint is positive across all quantiles (0.1–0.90), thus validating the pollution haven hypothesis (PHH) in the BRICS nations. Furthermore, both renewable energy and technological innovation curb ecological footprint across all quantiles (0.1–0.90). Moreover, technological innovation is proven to impact the environment positively across all quantiles (0.1–0.90) via the path of urbanization. As a result, technological innovation is projected to help the BRICS nations achieve sustainable urbanization. The DOLS, FMOLS, FE-OLS outcomes also validate the outcomes of MMQR. Based on these results, policies were proposed. • MMQR applied to integrate asymmetric effects. • Renewable energy consumption and technological innovation derive ecological sustainability. • Financial integration-led Pollution-haven-hypothesis is confirmed. • Economic growth and urbanization lead to higher ecological footprints. • Technology innovation neutralizes the negative impact of urbanization on ecological sustainability. [ABSTRACT FROM AUTHOR]

The manuscript describes the development of the Food and Energy Security Journal, from creation to now. [ABSTRACT FROM AUTHOR]

Ecological changes and deformations put nations around the world under socioeconomic pressure and are thus an important topic of discourse. In this framework, this study explores the effect of economic progress, natural resources, renewable energy and financial development on load capacity factor (proxy of ecological quality) utilizing the second‐generation approach for the case of the BRICS economies. Moreover, the paper explores the validity of the load capacity curve (LCC) hypothesis that has been recently introduced in the energy economics literature for the period between 1990 and 2018. The research results disprove the validity of the LCC hypothesis for the BRICS nations. Moreover, economic progress, financial development and natural resources cause ecological quality to decline, while renewable energy improves ecological quality. The panel causality results also support these results. Among several recommendations, the research advises that governments and policymakers advocate for reforms to promote renewable energy sources. The BRICS countries can go green and maintain ecological sustainability through this transition towards renewable energies, which is also a top priority of the UN's SDG 7. [ABSTRACT FROM AUTHOR]

This paper aims to validate the EKC hypothesis for BRICS countries, in the presence of natural resources, renewable energy, and globalization factors. FMOLS, DOLS, Method of Moments Quantile Regression (MMQR), and heterogeneous panel causality tests have been applied on the BRICS panel from 1990 to 2014. According to FMOLS and DOLS techniques, the EKC hypothesis does exist in BRICS countries in the presence of alternative energy resources and globalization, whereas quantile level analysis does not support globalization as a significant factor for environmental degradation. Quantile regression validates the EKC hypothesis with a direct association of natural resources and inverse association of renewable energy with environmental degradation. Heterogeneous panel causality also confirms the bidirectional Granger causality between all the variables and CO2, except globalization, which means that panel causality is endorsing the results of MMQR. Thus, it is recommended to encourage the usage of renewable energy resources in BRICS countries. [ABSTRACT FROM AUTHOR]

The present paper deals with the issue of Electrical Engineering, particularly its impact and standard of education in India from its initiation till present date. We have explored the transition of Electrical Engineering from disciplines of science to a discipline of engineering and technology. A comprehensive study of Electrical Engineering education framework in India at various stages has been done along with a comparison of educational institutes among BRICS nations, namely Brazil, Russia, India, China and South Africa. We have also acknowledged Electrical Engineering as an important domain of engineering and technology. Indian Government's efforts to improve the quality of Electrical Engineering education in India through internet based interactive online tools and its endeavors to decrease the rising levels of greenhouse emissions for the betterment of our environment has been appreciated in this paper. We have analyzed a plethora of Electrical Computer Aided Design (ECAD) simulation tools, available for the welfare of electrical engineering academia, as well as industry based electrical engineering applications. Electrical Engineers are destined to play a decisive role in the socio-economic future of India and the world, as they have been doing this since the 19th century. Keeping this fact in mind, we have decided to refer to the present employment opportunities available in India covering the private sector as well as the public one. The role of renewable energy in the creation of numerous sustainable jobs for the already huge and exponentially growing youth population of India has a mention in this paper. In conclusion we have formulated some recommendations to educational institutes and Indian Government which will help Electrical Engineering academia-industry flourish in the near future. [ABSTRACT FROM AUTHOR]

The aim of this study is to measure renewable energy performance among countries and to examine Turkey’s position. The performance evaluation of 33 OECD (Organization for Economic Cooperation and Development) and BRICS (Brazil, Russia, India, China, and South Africa) countries is conducted over the period 2009–2013. The analyses are based on data envelopment analysis (DEA) combined with the Malmquist productivity index (MPI) allowing for distinctions between efficiency and technical improvements over time. The results obtained show that the performance of the countries as a whole improved by 15% over the period. Generally, countries in OECD have higher average performance from those of BRICS and Turkey. As a member of OECD, Turkey should either produce more proper energy policies or implement its regulations in a strict manner in order to increase its performance. More discussions and implications are presented in the paper. [ABSTRACT FROM AUTHOR]

Against the backdrop of rising environmental concerns and an increase in awareness for renewable energy, the current paper explores the factors influencing renewable energy consumption by drawing a sample for BRICS nations from the period 1990 through 2015. To do so, we use dynamic common correlated effects, panel quantile regression methods and other robustness checks and find that environmental policy stringency index and human development index have significant and positive impact on renewable energy consumption. Other variables including carbon dioxide emission and gross fixed capital formation show statistically significant and negative link with renewable energy use. Our results emphasize upon stringency in existing environment policies and promoting renewable energy consumption. [ABSTRACT FROM AUTHOR]

The environmental impact of foreign direct investment (FDI) is inconclusive, and FDI's different effects are generally explained through various factors. Meanwhile, this paper explores the effect of FDI on renewable energy consumption. Environmental regulation is considered as a moderating variable and a threshold variable simultaneously to capture the nonlinear association between FDI and renewable energy consumption. The panel threshold method was employed for empirical estimations using the dataset of the BRICS countries from 1990 to 2015. In addition, the generalized method of moments (GMM) models—both system GMM and difference GMM models—were applied to verify the robustness of this work. When formal environmental regulation was used as a moderating variable, the empirical results indicate that FDI reduces renewable energy consumption when the degree of regulatory stringency is lower than a threshold level. In addition, it turns to foster renewable energy consumption once the stringency is higher than the threshold. A similar finding was obtained when an informal environmental regulation was considered. Furthermore, the findings suggest that stricter environmental regulation can substantially promote renewable energy consumption emanating from FDI. [ABSTRACT FROM AUTHOR]

10.3390/en14040884 2 Leitao N.C., Lorente D.B. The Linkage Between Economic Growth, Renewable Energy, Tourism, CO2 Emissions, and International Trade: The Evidence for the European Union. The authors of [[3]] report that clean, renewable energy produces little, if any, greenhouse gas emissions and provides a number of benefits to society associated with energy security, energy poverty, and environmental stewardship. The overall importance of behavioral changes within the energy/climate nexus indicates that the adoption of clean and renewable energy is a multi-faceted issue. While solar and wind energy are garnering the majority of attention for clean energy deployment, in [[3]] other forms of clean energy, including bioenergy, geothermal, hydro, and oceanic, are discussed. [Extracted from the article]

In a neo-classical aggregate production and Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) modeling framework, the paper attempts to explore the relationship between disaggregated energy consumption, economic growth, and carbon dioxide emissions in case of five emerging market economies—Brazil, Russia, China, India, and South Africa (BRICS) over the period 1992 to 2016. The study applied the robust unit root, cointegration, and long-run elasticity estimation methods like Pooled Mean Group and differenced panel generalized method of moments for empirical exercise. Having detected the panel heterogeneity and cross-sectional dependence, the cointegration tests documented the evidence of a long-run association among the variables. In the long-run, capital, labor, and non-renewable energy consumption are found to affect the economic growth positively. On the contrary, the impact of renewable energy consumption on the economic growth is found be positive but statistically insignificant. Moreover, population, per-capita income, and non-renewable energy consumption are found to increase the emissions whereas renewable energy consumption decreases them. Therefore, along with a proper emissions controls, BRICS countries should design and implement effective support policies so as to ensure the economic growth along with environmental sustainability. [ABSTRACT FROM AUTHOR]

This paper aims to examine the nexus between financial inclusion, renewable and non-renewable energy consumption, and carbon emissions according to the Environmental Kuznets Curve (EKC) hypothesis in the BRICS nations, employing the Method of Moments Quantile Regression (M.M.Q.R.) approach for 2002-2019. The causal linkages among the tested variables in heterogeneous panel data are investigated by utilising the Dumitrescu and Hurlin test. The empirical outcomes validate the EKC hypothesis for the BRICS nations. Furthermore, the findings from the panel quantile estimations (M.M.Q.R.) showed that the coefficients for the consumption of renewable energy and financial inclusion are negative through all quantiles (1st to 9th quantiles) for the emissions of CO2. Thus, this suggests CO2 emission levels are reduced by financial inclusion and renewable energy. In addition, the current analysis indicates that the volume of renewable energy investment in overall energy improves due to economic enlargement in the BRICS economies. Hence, financial inclusion is a catalyst for growth while mitigating carbon emissions. Therefore, financial inclusion should be included in the climate change paradigm strategies of the BRICS countries. To reach sustainable economic growth, we conclude that policy-makers should improve incentives for inclusive green finance. [ABSTRACT FROM AUTHOR]

Although the existing literature on environmental sustainability (ES) emphasizes its importance, yet few empirical studies look at the major contributing variables to ES. Therefore, we examine how the use of renewable energy, globalization, and technological innovation (TI) contribute to ES, with the moderating influence of foreign aid, spanning the period from 1996 to 2019 in BRICS economies. For data analysis, we apply the ARDL methodology, revealing an adverse and substantial link among globalization, TI, and the consumption of renewable energy with ES. Additionally, we discover that foreign aid has a beneficial moderating effect on the association between ES, globalization, and TI. On the other hand, it is found that foreign aid has an adverse moderating impact on the link between renewable energy sources and ES. This research also yields crucial practical implications, offering in-depth insights for the design of more effective policies to foster economic growth. [ABSTRACT FROM AUTHOR]

This paper reviews the history of renewable energy development in the BRICS countries. The financing models for renewable energy development of BRICS countries include bank financing, institutional loans, industry funds, and international financing. This paper identified several problems with financing in BRICS countries, including a lack of financing channels, investment shortage for small and medium-sized enterprises and imperfect government policies. The solutions to these problems include expanded capital markets, the financing of leasing services, and build-operate-transfer and build-own-operate projects; further, a financial citizen participation model should be employed similar to that as Germany and European Union emissions trading system (EU ETS). A financial citizen participation model means that legal entities, private individuals, and agricultural enterprises invest in renewable energy infrastructure through equity. A regional reserve ratio monetary policy is suggested to allow regions to develop renewable energy. [ABSTRACT FROM AUTHOR]

This study examined renewable energy, energy efficiency which is very essential to boost up environmental quality. This research also takes other factors which has impact on greenhouse gas emissions in the BRICS nations between 2000 and 2019. On the other hand, this research differs from previous research in that it considers the impact of Energy Efficiency and Renewable Energy Electricity on greenhouse gas emissions in BRICS economies, despite the fact that Energy Efficiency and Renewable Energy Electricity have the greatest impact on greenhouse gas emissions in BRICS economies. The influence of GDP and political risk index on energy-related greenhouse gas emissions also comes under the scope of this study. Further, the order of unit root was determined using cross-sectional dependency and slope heterogeneity. The results were achieved utilising moment quantile regression (MMQ). The analysis shows that GDP causes an increase in Energy-Related Greenhouse Gases (ERGHG) at the 25th, 50th, 75th and 90th quantiles. At the 25th, 50th, 75th and 90th quantiles, however, Energy Efficiency and Renewable Energy Electricity reduce Energy-Related Greenhouse Gases. Furthermore, political risk index reduces Energy-Related Greenhouse Gas emissions. Moreover, policymakers should investigate the asymmetric behaviour of Energy Efficiency, Electricity from Renewable Energy and GDP when adopting BRICS economies energy, environment and growth policies based on empirical data. [ABSTRACT FROM AUTHOR]

Tourism is a significant economic growth and development source, but it relies heavily on the energy sector and contributes to carbon dioxide (CO2) emissions. This study examines how tourism growth, renewable energy, and real GDP affect CO2 emissions in the BRICS countries. The researchers used panel unit root, Pedroni, and Kao methods to test for a long-run equilibrium relationship among the variables. The results reveal that tourism growth harms CO2 emissions in the long run, with a 1% increase in tourism growth leading to a 0.05% decrease in CO2 emissions. Renewable energy usage also harms CO2 emissions, with a 1% increase in renewable energy leading to a 0.15% decrease in CO2 emissions in the long run. CO2 emissions and real GDP show a U-shaped relationship in the long run, supporting the environmental Kuznets curve hypothesis. This hypothesis suggests that CO2 emissions increase with economic growth at low-income levels but decrease with economic growth at high-income levels. Therefore, the study implies that tourism growth can significantly lower CO2 emissions by promoting renewable energy usage and economic development. [ABSTRACT FROM AUTHOR]

Electricity consumption is a crucial factor in the environmental pollution process, and therefore, its impact needs to be carefully considered by policymakers. This study investigates the relationship between energy consumption, electricity generation, natural resource utilization, and environmental pollution in BRICS nations, which have a substantial share in global resource consumption. To this end, we employed a novel methodology, namely the Method of Moment Quantile Regression (MMQR), for the time period between 1990 and 2018, within the framework of the Environmental Kuznets Curve (EKC) theory. The study's outcome shows that natural resources and renewable energy are efficacious and significant in curbing environmental degradation among the sample countries. The investigation reveals a positive correlation between electricity consumption and environmental degradation, thereby highlighting this vital resource's role in exacerbating the BRICS nations' ecological footprint. The findings from this research can provide crucial insights for policymakers to achieve sustainable development and carbon neutrality in these countries. [ABSTRACT FROM AUTHOR]

In this study, the focus is on examining the influence of renewable energy consumption, economic risk, and financial risk on the load capacity factor (LF) within the BRICS countries. The analysis covers the time span from 1990 to 2019. The empirical strategy uses the Method of Moments Quantile Regression (MMQR) and long-run estimators (Fixed Effects Ordinary Least Squares, FE-OLS; Dynamic Ordinary Least Squares, DOLS; and Fully Modified Ordinary Least Squares, FMOLS). The findings highlight the presence of a cointegrating relationship. Moreover, fossil fuels and economic growth cause LF to decrease, while economic risk and the use of renewable energy sources increase the deepening of the LF. Furthermore, the results of the MMQR method are confirmed by DOLS, FMOLS, and FE-OLS estimates. Causality results also demonstrate that these factors may forecast ecological quality, indicating that policies for renewable energy consumption, financial risk, renewable energy, and economic growth can all have an impact on the degree of LF. In light of this research, policymakers should strongly encourage expenditures on environmentally friendly technologies and economic and financial stability to increase energy efficiency as well as sustain the widespread adoption and use of energy-saving products. [ABSTRACT FROM AUTHOR]

The present paper is the first attempt to investigate the nexus of per capita renewable energy, agriculture, and CO 2 emissions, together with output and non-renewable energy, in a 1992–2013 sample of BRICS countries. Panel unit root tests indicate that all the time series data are stationary in first difference, and panel co-integration tests prove the existence of co-integration relationship between the variables. The three panel long-run elasticities demonstrate that both per capita output and renewable energy play negative roles in emissions, while per capita nonrenewable energy and agriculture exert positive effects on emissions. Moreover, there is a feedback hypothetical relationship of CO 2 emissions and non-renewable energy, unidirectional relationships from renewable energy to both emissions and non-renewable energy, from agricultural value added to output, and from output to non-renewable energy in the short-run. In the long-run, causalities are found from other variables to emissions, and to non-renewable energy use. Therefore, BRICS countries’ policymakers should encourage the consumption of renewable energy and strengthen the management of agriculture to halt global warming. [ABSTRACT FROM AUTHOR]

This study investigates the time–frequency nexus of carbon dioxide (CO2) emissions with economic growth, nonrenewable (i.e., coal, natural gas, and oil), and renewable (i.e., hydro and geothermal) energy consumption. In this context, BRICS countries (namely, Brazil, Russian Federation, India, China, and South Africa), which are leading emerging countries, are included, and quarterly data from 1990/Q1 to 2019/Q4 is used. The study employs the wavelet coherence (WC) approach to explore the co-movement between the variables at different frequencies. The empirical results show that (i) there is a strong and positive co-movement between CO2 emission and economic growth; however, it is weak for Russia and South Africa in the medium and long-term; (ii) coal energy consumption is strongly and positively co-moved with CO2 emission for all BRICS countries; (iii) natural gas energy consumption is strongly and positively co-moved with CO2 emissions in Brazil, India, and China; however, it is weakly and positively co-moved in Russia and South Africa; (iv) oil energy consumption is strongly and positively co-moved with CO2 emissions in Brazil, India, and China; however, it changes a bit for Russia and South Africa; (v) hydro energy consumption is weakly and positively co-moved with CO2 emissions in general, whereas country-based results vary; (vi) geothermal energy consumption is also similar to hydro energy consumption. Thus, the WC results highlight the strong co-movement of economic growth and nonrenewable energy consumption with CO2 emissions, whereas renewable energy consumption has a relatively lower co-movement. Based on the results, policy implications are also discussed for BRICS countries. [ABSTRACT FROM AUTHOR]

The threat of biodiversity loss and mass extinction of species with an aftermath will shape all lives now and those to come. In this context, recent empirical studies illustrate various drivers of biodiversity for better environmental quality; however, the impact of the insurance market has not been thoroughly examined. Likewise, the possible non-linearities between biodiversity and its determinants are ignored in the current empirical literature for BRICS economies. Therefore, this work is the first to explore the effect of the insurance market, climate change, and renewable energy on biodiversity in BRICS economies using an advanced method of the non-linear autoregressive distributed lag (NARDL) method. The findings illustrated that a decline in the insurance market alleviates biodiversity loss and stimulates environmental quality. In contrast, an increasing insurance market augments biodiversity loss and negatively affects ecological quality. Furthermore, the findings uncovered that carbon emissions are detrimental to environmental quality. Lastly, the results report that reducing the level of renewable energy worsens biodiversity loss while boosting renewable energy utilization declines biodiversity loss. The policymakers and regulatory authorities in the BRICS should adopt the risk-based approach proposed by the network of greening the financial system (NGFS) to tackle the dilemma of double materiality between financial institutions and biodiversity. [ABSTRACT FROM AUTHOR]

Realizing carbon reduction goals is a top priority for many industrialized and developing nations worldwide. The biggest severe effect of human activities is climate change. Fiscal decentralization, and eco-innovation are possible strategies for addressing environmental issues and reaching sustainability objectives for the environment. These strategies may also assist nations and levels of government in pursuing perceived sustainable development. In order to achieve the environmental sustainability goals of the BRICS economies from 1970 to 2020, this study evaluates the combined influence of environmental innovation, and fiscal decentralization. Using the augmented mean group (AMG) method, the long-run dynamic equilibrium between the chosen variables is examined. The findings indicate that while the deployment of green technologies and renewable energy enhances green environment, fiscal decentralization, and economic growth aggravate ecological damage. Our evidence suggests that the BRICS countries should apply prudence when putting fiscal decentralization policies into place. To enhance ecological quality, authorities should promote the utilization of renewable energy sources and environmentally friendly technologies. [ABSTRACT FROM AUTHOR]

The relationship between energy, environment, and economic growth has been received a lot of attention recently among scientific studies, but environmental sustainability remains a global issue. Renewable energy development, green technological innovations, and regulatory policy mechanisms can all help to reduce greenhouse gas emissions and support environmental sustainability. The purpose of this study was to look at the influence of renewable energy development, market regulation, and environment-related innovation on CO2 emissions in the BRICS countries from 1990 to 2020. For empirical analysis, it uses second-generation panel unit root test and updated linear and nonlinear cointegration techniques. To this end, this study employs symmetric and asymmetric approach to linear and nonlinear relationship among study variables. The findings indicate that there is long-run symmetric and asymmetric relationship between renewable energy development, market regulation, environment-related innovation, and CO2 emissions. The market regulation plays significant mediating role in relation between renewable energy development, environment-related innovation, and CO2 emissions. Our findings suggest that BRICS countries need to more focus on the environment-related innovation and renewable energy development. They should design market-based environmental regulation policies, emphasize on environmental taxes, expand renewable energy development, and environment-related innovations. Such strategies are key to limiting CO2 emissions and gain environmental sustainable. [ABSTRACT FROM AUTHOR]

Few researches have inspected the task of green finance in reducing CO2 emissions, while earlier studies have inspected the influence of economic development on carbon emissions. A green finance development index is built using four indicators to fill in this knowledge gap: green credit, green insurance, green securities, and green investing. Using data spanning the years 2005–2019, a panel quantile regression is applied to investigate the links between green finance, renewable energy, and CO2 emissions. Increases in renewable energy use and advances in the green finance development index have contributed to a reduction in CO2 emissions from BRICS countries. CO2 emissions on the other hand slowed the growth of renewable energy use, slowed the flow of investment to green projects, and ultimately hampered the development of green finance. There was also a clear policy-driven influence on renewable energy spending in the countries of the BRICS region. Green finance policies, on the other hand, have consistently failed to have a long-term impact. Therefore, rising the consumption of renewable energy and creating a carbon trading market are all part of this study's recommendations for green finance policy improvement. [ABSTRACT FROM AUTHOR]

Global warming is the buzzword these days, where researchers and policymakers are working hard to figure out its causes and how we can achieve sustainable development goals. Several research studies have been conducted to determine the key factors that influence environmental degradation. However, studies have ignored the role of financial institutions in achieving sustainable development goals. Therefore, the present study evaluates the influence of financial stability on consumption-based-carbon emission for BRICS countries in the presence of renewable energy, technological innovation, industry value-added, and international trade over the period of 1995 to 2018. This study has simulated its analyses by utilizing the spatial Durbin model through the spatial time-fixed effect technique due to the cross-border spillover effect. The results show that financial stability, technological innovation, economic growth, and imports contribute to consumption-based carbon emissions, whereas renewable energy and exports negatively influence consumption-based carbon emissions. In the case of cross-border spillover analysis, the study's findings revealed that only renewable energy has a positive spillover effect among the variables with a significant effect, whereas economic growth and bilateral export have a negative effect on consumption-based carbon emission. [ABSTRACT FROM AUTHOR]

The increasing use of information and communication technology (ICT) in this digital era and its interlinkage with other economic and environmental factors have gotten considerable attention from researchers. ICT tools are considered very important in economic activities such as international trade, the financial sector, and foreign direct investment. ICT is also interlinked with innovation and energy consumption. However, ICT with these activities influences ecological footprint, especially in emerging economies such as BRICS (Brazil, Russia, India, China, and South Africa) countries. Therefore, this topic has got considerable attention from researchers and policy makers on the impact of ICT and economic growth activities on environmental quality. Consequently, this study investigates the impact of information and communication technology, renewable energy consumption and innovation on carbon dioxide emission in BRICS countries from 1990 to 2019 using cointegration, generalized least square, and panel corrected standard errors models. The findings show that two ICT indicators, mobile cellular subscription and fixed broadband subscription, negatively affect carbon emission along with economic growth and financial development. Innovation and renewable energy consumption also significantly reduce emission in presence of ICT indicators, while trade openness and fixed telephone subscriptions increase it. In the case of the ICT index model, all variables are positively associated with carbon emission except renewable energy consumption, however, the square and interaction term of all indicators significantly reduce carbon emission and evidence the environmental Kuznets curve hypothesis except trade openness. ICT growth should be considered in the energy sector, innovation, and financial development to enhance environmental quality. The findings of the study have considerable policy implications for the sample countries. [ABSTRACT FROM AUTHOR]

In a time of climate change, critically contributed by the increased global energy consumption, energy efficiency comes out as a critical factor in achieving sustainable growth for the countries. Given the fast economic advancement in the BRICS (Brazil, Russia, India, China, and South Africa) countries that have played a vital role in the global economy, energy usage, and climate governance, this study investigates the role of energy efficiency on the environmental quality of these countries. We proxy environmental quality with CO2 emissions, incorporate renewable energy in our models, and estimate the relationship with a long-panel data of 29 years (1990–2018). Our dynamic heterogeneous panel model findings confirm that energy efficiency significantly reduces CO2 emissions or improves environmental quality in the long run and the short run. Besides, we find that renewable energy has a crucial role in enhancing environmental quality in the long run with the negative impact of economic growth activities. Our findings contribute to the literature in a novel way facilitating the comprehension of the role of energy efficiency using a wide range of sophisticated techniques, thus providing robust results. For the policymakers, we humbly advocate strategies for the clean and sustainable economic transition based on our findings which has notable implications for the BRICS, other developing economies, and the world as a whole. [ABSTRACT FROM AUTHOR]

Energy consumption is an indispensable element for the purpose of achieving economic growth. Clean energy sources must be put into use to achieve a sustainable environment. The aim of this study is to investigate the relationship among growth, energy consumption, employment, education, and inflation with PVAR, FMOLS, and DOLS analysis in BRICS countries. The study that covers the 2001–2018 observation period included growth as the dependent variable in the equation. The only common result of the three coefficient estimates is that there is no significant relationship between education and growth. However, the increase in income has a decreasing effect on the level of education. The direction of causality between the two variables is from growth to education. Contrary to the PVAR estimate, according to FMOLS and DOLS, energy consumption and employment have a positive contribution towards growth. However, according to PVAR regression results, income growth has a positive effect on employment. Moreover, a unidirectional causal relation from energy consumption to growth and a bidirectional relation between growth and employment have been determined. This one-way relationship between energy consumption and GDP depicts that the growth hypothesis is valid. Furthermore, an energy poverty problem does not exist in BRICS countries. According to FMOLS, DOLS, and PVAR forecasts, the relationship between inflation and growth is complex. In accordance with PVAR estimates, the increase in growth reduces inflation, and the causality from growth to inflation also supports the PVAR results. According to the outcome of the research, energy poverty is not observed in the panel countries. It would be wise for BRICS countries to increase their energy consumption and employment levels in order to increase growth. However, considering the air pollution caused by fossil fuel consumption, it is key that they employ renewable energy sources. [ABSTRACT FROM AUTHOR]

This study develops a theoretical framework to quantify the impacts of technological progress, renewable energy consumption and international trade on carbon emissions (CO2), unlike many other studies that consider variables of interest in an ad hoc manner. The developed framework is then applied to the data from the BRICS countries for 1990–2017 period. The study also takes into consideration the integration, co‐integration, as well as cross‐country interdependence and heterogeneity properties of the panel data, and hence, the obtained results are robust and policy insights are well‐grounded. We estimate that technological progress, renewable energy consumption, and export size contribute to the reduction of the CO2 emissions, while gross domestic product (GDP) and import size increase the pollution both in the long‐ and short‐run. Our main policy recommendations would be the implementations of the measures, regulations, and establishment of the legislative frameworks that foster the technological enhancements and transition toward sustainable energy. [ABSTRACT FROM AUTHOR]

This study examines links between Morgan and Stanley capital Investment (MSCI), foreign direct investment (FDI), renewable energy, urbanization, and trade openness on environmental degradation in (Brazil, Russia, India, China, South Africa) BRICS countries. In this study, generalized method of moment (GMM) estimation is applied on a data set ranging from 1993 to 2018. Results illustrate that stock market index price (MSCI) has negative relationship on CO2 emissions in India, China, Russia, and South Africa and has positive relationship in Brazil. One possible reason for this is strong environmental regulations and their enforcement by Brazilian government. The study also finds that trade openness, FDI, and urbanization have a significant positive relationship on environmental degradation. The impact of stock market development on environmental degradation varies among BRICS countries. Our outcomes have significant policy implications. For example, the policy makers have to initiate effective strategies to promote the renewable energy sources to meet the increasing demand for energy by replacing the use of conventional energy such as coal, gas, and oil. This will help to reduce the CO2 emissions from fossil fuel and ensure sustainable stock market development in the BRICS nations. BRICS countries who have taken the initiative and formulated policies for businesses to conserve the environment play a positive role compared to those who do not. [ABSTRACT FROM AUTHOR]

The global focus on the use of renewable energy resources was mainly reignited by the signing of the Kyoto Protocol Agreement in 1997. Since then, the world has seen a great deal of progress in terms of the production and consumption of renewable energy. This in turn is rapidly powering economic growth and social development around the globe. Contrary to popular belief, the use of renewable energy is not limited to developed countries only. The developing countries are also rapidly endorsing renewable energy as a vital engine of economic growth and societal development. In this regard, even though renewable energy production and consumption are in their infancy in BRICS, these countries are taking concrete steps towards the development of renewable energy resources. The results of previous studies have indicated that with an increase in the GDP of a country its carbon footprint also tends to increase; the Brazil, Russia, India, China, and South Africa (BRICS) countries are no exception in this regard. One of the main challenges in research related to measuring the contribution of renewable energy towards economic growth is the use of a singular model or techniques that may not be appropriate for the generalization of the results. This study intends to overcome this challenge by application of multiple econometric-based models which include the "Cross Dependency" test, the unit root test, and "CIPS" (cross-sectional augmented IPS). Besides these the second generation, stochastic models based upon econometrics, such as the DOLS test (dynamic ordinary least square) and the FMOLS (fully modified ordinary least square) are also applied for verification of the contribution of renewable energy towards the economic growth of the BRICS countries. The novelty of the study mainly stems from fact that these models are seldom applied in tandem and especially in the BRICS countries. The results of the study indicate that the existence of the bi-directional relationship between the use of renewable energy and economic growth is mainly indicated by the increase in GDP, thus lending support to the feedback hypothesis. Moreover, the conservation hypothesis was proven by the existence of a unidirectional causality relationship between the use of renewable energy and CO2 emissions. Alongside these, the study also included sensitivity analysis to gauge the impact of the growth of GDP on the CO2 emissions of BRICS countries, and regression analysis was performed to create an EKC curve which was used to gauge not only the sensitivity but also to help in highlighting the impact of using renewable energy in controlling and reducing CO2 emissions, thus proving the EKC theory. Thus, it can be deduced that increase in CO2 emissions is of major concern for the BRICS countries, which has led them to increase the production of renewable energy. Based upon the findings of the present study it is recommended that policymakers should encourage the use of renewable energy by offering incentives in financial terms, such as interest-free or low-interest loans, subsidies and feed-in tariffs. [ABSTRACT FROM AUTHOR]