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CO2 emissions in BRICS countries: what role can environmental regulation and financial development play?

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  • Muhammad Awais Baloch

    (Baoji University of Arts and Sciences)

  • Danish

    (Guangdong University of Foreign Studies)

Abstract

To ensure sustainability, it is necessary to achieve carbon emission mitigation goals without compromising economic growth. Assessing whether the BRICS countries, which are rapidly growing in terms of economy and carbon emissions, are moving toward achieving sustainable developing goals, through important policy measures and their implementation, is necessary. For this purpose, this study investigates the impact of environmental regulation and financial development on carbon emissions in BRICS countries from 1995 to 2016, employing the most recent data estimation technique common correlated effect means group (CCEMG). The empirical results reveal that financial development contributes to carbon emissions, whereas environmental regulations are also found to degrade the environment by stimulating carbon emissions. Important policy insights are suggested for policymakers to counter environmental challenges.

Suggested Citation

  • Muhammad Awais Baloch & Danish, 2022. "CO2 emissions in BRICS countries: what role can environmental regulation and financial development play?," Climatic Change, Springer, vol. 172(1), pages 1-14, May.
    • Handle: RePEc:spr:climat:v:172:y:2022:i:1:d:10.1007_s10584-022-03362-7
    DOI: 10.1007/s10584-022-03362-7
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    Cited by:

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    4. Muhammad Awais Baloch & Yiting Qiu & Zilu Guo, 2024. "Empowering sustainability practices through energy transition: The role of digital economy and technological innovation among BRICS economies," Australian Economic Papers, Wiley Blackwell, vol. 63(2), pages 283-301, June.
    5. Rui Dong & Shengnan Wang & Muhammad Awais Baloch, 2024. "Do green finance and green innovation foster environmental sustainability in China? Evidence from a quantile autoregressive-distributed lag model," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(10), pages 25995-26017, October.
    6. Dhaka, Surjeet Singh & Kyire, Samuel Kwabena Chaa & Asare, Jeffery Kofi, 2024. "Achieving environmental sustainability: the interplay of technological innovations, foreign direct investment and agricultural production on CO2 emissions in BRICS countries," IAAE 2024 Conference, August 2-7, 2024, New Delhi, India 344316, International Association of Agricultural Economists (IAAE).
    7. Verena Dominique Kouassi & Hongyi Xu & Chukwunonso Philip Bosah & Twum Edwin Ayimadu & Mbula Ngoy Nadege, 2024. "Sustainable Energy Usage for Africa: The Role of Foreign Direct Investment in Green Growth Practices to Mitigate CO 2 Emissions," Energies, MDPI, vol. 17(15), pages 1-23, August.

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