IDEAS home Printed from https://ideas.repec.org/a/sae/engenv/v35y2024i8p4195-4222.html
   My bibliography  Save this article

A new look at environmental sustainability from the lens of green policies, eco-digitalization, affluence, and urbanization: Empirical insights from BRICS economies

Author

Listed:
  • Ao Wang
  • Shan Shan
  • Ridwan Lanre Ibrahim
  • Olatunde Julius Omokanmi

Abstract

The unwavering adverse effects of global warming continue to threaten the sustainability of the ecosystem and peaceful human coexistence. Efforts to resolve this ecological matter promulgate the interest in green policies, which the extant studies are yet to explore fully. Consequently, this study provides the first empirical evidence on the roles of green policies vectoring, green energy, green finance, and green innovation amidst eco-digitalization and urbanization on environmental sustainability captured by CO 2 emissions, ecological footprint, and PM 2.5 air pollutions in BRICS countries from 1995 to 2019. The study relies on the STIRPAT framework alongside second-generation estimators in providing the empirical evidence. Findings indicate that green energy, green finance, green innovation, and eco-digitalization promote environmental sustainability by reducing CO 2 emissions, ecological footprint, and PM 2.5 air pollutions. Conversely, urbanization and affluence deter environmental sustainability due to their inducing effects the highlighted pollutants. The distributional analysis based on quantile regression and country-level estimation based on fully modified ordinary least squares technique accentuates the empirical regularity of the main findings. Besides, the Granger causality reveals the presence of bidirectional and unidirectional causality relationships in the estimated model. Based on the findings, feasible policies that enhance sustainability of the BRICS environment are formulated.

Suggested Citation

  • Ao Wang & Shan Shan & Ridwan Lanre Ibrahim & Olatunde Julius Omokanmi, 2024. "A new look at environmental sustainability from the lens of green policies, eco-digitalization, affluence, and urbanization: Empirical insights from BRICS economies," Energy & Environment, , vol. 35(8), pages 4195-4222, December.
    • Handle: RePEc:sae:engenv:v:35:y:2024:i:8:p:4195-4222
    DOI: 10.1177/0958305X231177736
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0958305X231177736
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0958305X231177736?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. M. Hashem Pesaran, 2007. "A simple panel unit root test in the presence of cross-section dependence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(2), pages 265-312.
    2. Ibrahim, Ridwan Lanre & Al-mulali, Usama & Ozturk, Ilhan & Bello, Ajide Kazeem & Raimi, Lukman, 2022. "On the criticality of renewable energy to sustainable development: Do green financial development, technological innovation, and economic complexity matter for China?," Renewable Energy, Elsevier, vol. 199(C), pages 262-277.
    3. Joakim Westerlund, 2007. "Testing for Error Correction in Panel Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 69(6), pages 709-748, December.
    4. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    5. Chudik, Alexander & Pesaran, M. Hashem, 2015. "Common correlated effects estimation of heterogeneous dynamic panel data models with weakly exogenous regressors," Journal of Econometrics, Elsevier, vol. 188(2), pages 393-420.
    6. Leonardo Nascimento & Takeshi Kuramochi & Gabriela Iacobuta & Michel den Elzen & Hanna Fekete & Marie Weishaupt & Heleen Laura van Soest & Mark Roelfsema & Gustavo De Vivero-Serrano & Swithin Lui & Fr, 2022. "Twenty years of climate policy: G20 coverage and gaps," Climate Policy, Taylor & Francis Journals, vol. 22(2), pages 158-174, February.
    7. Yang Chen & Chien-Chiang Lee & Ming Chen, 2022. "Ecological footprint, human capital, and urbanization," Energy & Environment, , vol. 33(3), pages 487-510, May.
    8. Lee, Chi-Chuan & Zhang, Jian & Hou, Shanshuai, 2023. "The impact of regional renewable energy development on environmental sustainability in China," Resources Policy, Elsevier, vol. 80(C).
    9. Jiancheng Bai & Zhonglu Chen & Xiang Yan & Yueyan Zhang, 2022. "Research on the impact of green finance on carbon emissions: evidence from China," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 6965-6984, December.
    10. Sun, Yunpeng & Li, Haoning & Andlib, Zubaria & Genie, Mesfin G., 2022. "How do renewable energy and urbanization cause carbon emissions? Evidence from advanced panel estimation techniques," Renewable Energy, Elsevier, vol. 185(C), pages 996-1005.
    11. Syed Abdul Rehman Khan & Ridwan Lanre Ibrahim & Abul Quasem Al-Amin & Zhang Yu, 2022. "An Ideology of Sustainability under Technological Revolution: Striving towards Sustainable Development," Sustainability, MDPI, vol. 14(8), pages 1-21, April.
    12. Ridwan L. Ibrahim & Kazeem B. Ajide, 2022. "Trade Facilitation, Institutional Quality, and Sustainable Environment: Renewed Evidence from Sub-Saharan African Countries," Journal of African Business, Taylor & Francis Journals, vol. 23(2), pages 281-303, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lanre Ibrahim, Ridwan & Bello Ajide, Kazeem & Usman, Muhammad & Kousar, Rakhshanda, 2022. "Heterogeneous effects of renewable energy and structural change on environmental pollution in Africa: Do natural resources and environmental technologies reduce pressure on the environment?," Renewable Energy, Elsevier, vol. 200(C), pages 244-256.
    2. Yang Yu & Magdalena Radulescu & Abanum Innocent Ifelunini & Stephen Obinozie Ogwu & Joshua Chukwuma Onwe & Atif Jahanger, 2022. "Achieving Carbon Neutrality Pledge through Clean Energy Transition: Linking the Role of Green Innovation and Environmental Policy in E7 Countries," Energies, MDPI, vol. 15(17), pages 1-23, September.
    3. Chakraborty, Saptorshee Kanto & Mazzanti, Massimiliano, 2021. "Renewable electricity and economic growth relationship in the long run: Panel data econometric evidence from the OECD," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 330-341.
    4. Bonizzi, Bruno, 2017. "Institutional investors’ allocation to emerging markets: A panel approach to asset demand," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 47(C), pages 47-64.
    5. Abdelaziz Boukhelkhal, 2022. "Energy use, economic growth and CO2 emissions in Africa: does the environmental Kuznets curve hypothesis exist? New evidence from heterogeneous panel under cross-sectional dependence," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(11), pages 13083-13110, November.
    6. Trofimov, Ivan D., 2020. "Is There a J-Curve Effect in the Services Trade in Canada? A Panel Data Analysis," MPRA Paper 106704, University Library of Munich, Germany.
    7. Jian Xue & Zeeshan Rasool & Raima Nazar & Ahmad Imran Khan & Shaukat Hussain Bhatti & Sajid Ali, 2021. "Revisiting Natural Resources—Globalization-Environmental Quality Nexus: Fresh Insights from South Asian Countries," Sustainability, MDPI, vol. 13(8), pages 1-19, April.
    8. Yersh, Valeryia, 2020. "Current account sustainability and capital mobility in Latin American and Caribbean countries," MPRA Paper 105440, University Library of Munich, Germany.
    9. Dorothée Charlier & Florian Fizaine, 2020. "Does Becoming Richer Lead to a Reduction in Natural Resource Consumption? An Empirical Refutation of the Kuznets Material Curve," Working Papers 2020.05, FAERE - French Association of Environmental and Resource Economists.
    10. Yang, Shuangpeng & umar, Muhammad, 2022. "How globalization is reshaping the environmental quality in G7 economies in the presence of renewable energy initiatives?," Renewable Energy, Elsevier, vol. 193(C), pages 128-135.
    11. Badeeb, Ramez Abubakr & Wang, Bo & Zhao, Jun & Khan, Zeeshan & Uktamov, Khusniddin Fakhriddinovich & Zhang, Changyong, 2023. "Natural resources extraction and financial inclusion: Linear and non-linear effect of natural resources on financial sector," Resources Policy, Elsevier, vol. 85(PA).
    12. Rafaty, R. & Dolphin, G. & Pretis, F., 2020. "Carbon pricing and the elasticity of CO2 emissions," Cambridge Working Papers in Economics 20116, Faculty of Economics, University of Cambridge.
    13. Skare, Marinko & Ozturk, Ilhan & Porada-Rochoń, Małgorzata & Stjepanovic, Sasa, 2024. "Energy as the new frontier: Dynamic panel data analysis revealing energy's transformative role in economic growth and technological progress," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    14. Rehman, Mubeen Abdur, 2024. "How has FinTech become a solution for minerals management?," Resources Policy, Elsevier, vol. 92(C).
    15. Gianni Carvelli, 2023. "The long-run effects of government expenditure on private investments: a panel CS-ARDL approach," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 47(3), pages 620-645, September.
    16. Mesagan, Ekundayo Peter & Vo, Xuan Vinh, 2023. "Does natural resource rent and consumption interplay worsen Africa's pollution? Heterogeneous panel approach with cross-sectional dependence," Resources Policy, Elsevier, vol. 82(C).
    17. Munir Ahmad & Heng Li & Muhammad Khalid Anser & Abdul Rehman & Zeeshan Fareed & Qingyou Yan & Gul Jabeen, 2021. "Are the intensity of energy use, land agglomeration, CO2 emissions, and economic progress dynamically interlinked across development levels?," Energy & Environment, , vol. 32(4), pages 690-721, June.
    18. Sinha, Avik & Shahbaz, Muhammad & Sengupta, Tuhin, 2018. "Renewable Energy Policies and Contradictions in Causality: A case of Next 11 Countries," MPRA Paper 87542, University Library of Munich, Germany, revised 17 Jun 2018.
    19. Sudeshna Ghosh, 2022. "Analysing the nexus between income inequality and military expenditure in top ten defence expenditure economies," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(2), pages 689-712, April.
    20. Lu, Yin & Tian, Tian & Ge, Chen, 2023. "Asymmetric effects of renewable energy, fintech development, natural resources, and environmental regulations on the climate change in the post-covid era," Resources Policy, Elsevier, vol. 85(PB).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:engenv:v:35:y:2024:i:8:p:4195-4222. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.