Exploring the impact of Green Finance, Green Technology Innovation, Green Growth and Natural Resource Rent on CO2 Emission: Evidence from BRICS + Economies.

Abstract

The global economic supremacy battle has rapidly increased environmental deterioration. BRICS + nations have prioritized environmental sustainability in their policies. This study examines the effect of Green Technology Innovation, Green Finance, Green Growth, and Natural Resource Rent on CO2 emission in BRICS + economies for the period of 2000 – 2024. Quantile regression and FGLS were employed. The results revealed that Green Growth, Green Finance, and Natural Resource Rent have a statistically significant negative relation with environmental deterioration. The empirical findings suggest that promoting Green Finance, Green Growth, and Natural Resource Rent, can be powerful levers for promoting environmental sustainability in BRICS + economies. Whereas, Green Technological Innovation can lead to climate degradation. The study also applied robustness test which further confirmed the mainstream results. These research directions can provide valuable insights for policymakers, businesses and scholars, helping in promoting environmental sustainability.