Novel research methods to examine renewable energy and energy related greenhouse gases: evidence from novel panel methods

In the current time, the most distressing issue is emissions control and environmental recovery. All developed and developing economies are rapidly expanding their industrial sector and increasing energy use while struggling for environmental sustainability. This study aims to analyse whether renewable energy helps BRICS economies reduce energy related emissions. Also, the role of economic growth, research and development, and public–private partnership investment in energy is investigated during the period from 1990 to 2020. Using various panel data instruments, the results illustrate the slopes heterogeneity, panel cross-section dependence, and the long-run co-integration association between the variables. Using the novel method of moment quantile regression, this study found that economic growth adversely affects environmental quality by triggering energy related emissions. However, renewable energy consumption, research and development, and public–private partnership investment in energy significantly reduce energy related emissions in the region at all quantile (25th, 50th, 75th and 90th). Besides, this study found bidirectional causal nexus between economic growth, renewable energy, research and development, and the energy related greenhouse gas emissions, while unidirectional causality from public–private partnership investment to energy related emissions. Some relevant policies are suggested that could help tackle the issue of energy related emissions.