Towards Achieving Sustainable Development: Role of Technology Innovation, Technology Adoption and CO2 Emission for BRICS

Abstract

In the digital era, technology innovation and adoption trigger economic growth and enhance CO2 emissions through productivity, which places it in the mainstream policy debate. For BRICS economies, this paper uses the first method proposed in the literature to quantify their information and communication technology (ICT) and innovatively links each country to their information technology adoption rate, as a surrogate indicator for measuring information and communication technology. Environmental Kuznets curve evidence is also examined, using technology innovation, technology adoption, and trade openness as the control variables for sustainable development. The results show that two out of three technology innovation instruments, fixed telephone, and broadband subscriptions increase CO2 emissions. Simultaneously, mobile cellular subscriptions have a lowering effect on CO2 emission in BRICS. The technology adoption indicators, high-technology exports, and electric power consumption also cause an upsurge in CO2 emission. Moreover, trade openness also enriches the level of CO2 emission in the BRICS regions. There is a need to devise technology innovation and adoption policies to better use technology and to ensure a green environment.

Does Technological Innovation Promote Green Development? A Case Study of the Yangtze River Economic Belt in China

“…TI facilitates green development [ 13 , 14 ]. First, TI can improve the efficiency of resource use, thereby reducing energy consumption and pollutant emissions per unit of output [ 9 , 15 , 16 ].…”

Re-evaluating the asymmetric economic policy uncertainty, conventional energy, and renewable energy consumption nexus for BRICS

“…In 2018, the collective share of these economies in total CO 2 emissions of the world is 42%. 1 This contribution by BRICS economies is not surprising as they are the fastest-growing economies of the world (Su et al 2021 ; Qin and Ozturk 2021 ); hence, their energy demand is also going up which is the main reason behind greenhouse gas emissions (Ozturk 2015 ). According to the BRICS energy report, in 2019, the energy consumed by these countries is one third of the world’s total energy consumption, and this is expected to go up to 40% by the year 2040.…”

Renewable and Non-Renewable Energy Consumption in BRICS: Assessing the Dynamic Linkage between Foreign Capital Inflows and Energy Consumption

“…The BRICS countries' total net inflow of FDI has 307.79 billion U.S. dollars and it has become 16.5% of net FDI inflow to the globe. From 2001 to 2011, CO 2 emissions of the BRICS economies share rose from 27.35% to 37.78%, while the share of greenhouse gas emissions of the BRICS economies has 41.3% and 40% of energy consumption in the globe [21]. Thus we selected the BRICS regions for analysis.…”