Natural resources and trade-adjusted carbon emissions in the BRICS: The role of clean energy

Abstract

Environmental degradation is not only a serious threat to human health but also affects all types of development projects across countries. Countries aim to control the increase in temperature as a means of addressing issues regarding the environment. In spite of the agreement, CO2e has been steadily rising over the course of the years, which poses an ongoing risk to the lives of people living on earth. Countries are passing laws that will make it easier to gain affordable access to green and clean forms of energy. Despite growing recognition of the need to improve environment, many countries continue to rely heavily on natural resource extraction and exportation, which can deteriorate environment. This study investigates the impact of natural resource rents, and access to clean technologies for cooking on CO2e of BRICS nations from 1990 to 2021. We use quantile regression methods to explore the impact of natural resources, access to clean technologies, renewable energies, income, and trade on CO2 emissions. We found that extraction of natural resource deteriorates environment in BRICS countries. Moreover, access to clean technologies, and renewable energies are helpful for abating CO2 emissions. The results demonstrate the necessity of adopting cleaner technologies to reduce the high worry of CO2e concentration, which is driven by income and commerce. Sustainable consumption and production policies generate effective tools for reducing environmental concerns, which is crucial for achieving healthy gains.