Does industrial eco-innovative development and economic growth affect environmental sustainability? New evidence from BRICS countries

Abstract

This research aims to identify the periodical impact of industrial development, renewable energy, economic growth, and gross capital formation on environmental deterioration in BRICS countries. The analytical procedure is based on the annual data from 1995 to 2020. The selected econometric methods which are used to determine the relationship among exogenous and endogenous variables are panel unit-root tests for stationarity check, Johansen co-integration test for co-integration relationship, and FMOLS and quantile regression for long-run relationship. The empirical research findings confirm a significant positive association of environmental deterioration with industrial development, GDP, and GCF, while a significant negative relationship was observed between CO2 emission and renewable energy. The BRICS group of countries should be more focused on environmentally friendly technological development as they are concerned with economic growth. Renewable energy resources positively impact the environmental quality, so backward resources should be replaced with renewable energy resources to attain double impacts, that is, the reduction of CO2 emission with the reduction of oldfangled resources and increase in the environmental quality with the aggrandizement of renewable energy resources. Based on key findings and implications of the sectorial and whole economic growth of BRICS countries, this research suggests some policy implications for reducing toxic CO2 emissions and enhancing the quality of the environment.

Dynamic linkages between tourism, economic growth, trade, energy demand and carbon emission: evidence from EU

“…Other influential studies addressing the influence of industrial development, agricultural output and economic growth on environmental quality are seen in the empirical efforts of Liu et al [26], Okere et al [36], Okere et al [37], Muoneke et al [30] and Naseem et al [31]. Interfacing with the industrial development and environmental quality nexus, Okere et al [36] posited that improved finance and industrial restructuring are needed economic acumen that can accelerate a quick transition to low-carbon development in Argentina, while fossil fuel, population, economic growth, and government consumption expenditure generate environmental challenges.…”

“…Okere et al [37] introduced a panacea in the case of Peru, stating that economic integration reduces environmental challenges in the Peruvian Amazon. Liu et al [26] posit that industrial development, gross domestic product and gross capital formation increase environmental degradation in BRICS countries. Naseem et al [31] and Muoneke et al [30] investigated the agricultureenvironmental quality nexus in Latin America and Asia, respectively.…”

Unveiling the liaison between human capital, trade openness, and environmental sustainability for BRICS economies: Robust panel‐data estimation

“…In this regard, high economic growth requires high energy consumption, leading to increased CO 2 emissions (Cetin et al, 2018;H. Y. Li et al, 2021; S. Liu, Gao, et al, 2022;H. Liu, Saleem, et al, 2022;Magazzino & Mele, 2022).…”

“…In the context of BRICS economies, most of the comprehensive empirical works investigate the determinants of footprint (Sahoo et al, 2021); economic growth, eco-innovation, and environment (H. S. Liu, Gao, et al, 2022;H.…”

How Can Resource-Exhausted Cities Get Out of “The Valley of Death”? An Evaluation Index System and Obstacle Degree Analysis of Green Sustainable Development

“…In the process of human development, humans have adopted an extensive development model with “high input, high consumption and high pollution” [ 1 , 2 , 3 ], constantly consuming resources and discharging waste to the environment in order to meet growing material needs and ensure the rapid development of the economy and society [ 4 , 5 ]. After years of resource depletion, large-scale, high-intensity, large-area resource mining and the rapid development of high-energy-consuming industries, many resource-based cities have suffered serious resource loss and environment deterioration [ 6 , 7 ]. However, people’s demand for economic development and social progress has not diminished.…”