Purpose: theoretical and analytical substantiation of the directions and mechanisms of digital tools and platform-based solutions impact on the transformation of economic policy and public governance systems in the BRICS countries (with a focus on Russia, India, and China). Methods: research methodology is based on a systemic and institutional approach, involving the use of comparative and structuralfunctional analysis methods, content analysis of regulatory and statistical data, as well as elements of the platform economy theory and the concept of «state as a platform» to assess the impact of digital instruments on the formation of new economic policy in the BRICS countries. Results: study's findings demonstrate that digital tools and platform solutions are becoming a systemic factor in the transformation of economic policy in the BRICS countries, creating the preconditions for sustainable economic growth and improved public administration efficiency. The development of a platform economy is found to facilitate the transition from traditional forms of government regulation to an ecosystem-based governance model based on network effects, reduced transaction costs, and the personalization of public services, thereby enhancing the transparency and adaptability of institutions. The concept of «state as a platform» is substantiated as an institutional basis for the formation of a new digital model of an interaction between the state, business, and society, aimed at increasing technological sovereignty and inclusiveness of socio-economic development. Conclusions and Relevance: study examining the fundamentals of platform economy development using Russia, India, and China as examples confirmed that digital tools are a key driver in the formation of new economic policies in the BRICS countries. The transition from fragmented digitalization to a platform model is shaping a new architecture of economic relations based on the principles of openness, networking, and technological sovereignty. The need to adapt national strategies to the conditions of the digital economy and develop institutional mechanisms to ensure the sustainability and inclusiveness of digital transformations in the BRICS region is emphasized.

The evaluation of environmental, social, and governance performance is a component of investment portfolio analysis that aids in the identification of potential risks and opportunities. The paper investigates the relationship between ESG performance and market capitalisation, with a keen interest in the mediating role of the cost of equity. The study focuses on industries in the BRICS region with a sample of 78 individual industries streamlined from 144 specific sectors across Brazil, Russia, India, China, and South Africa from 2019 to 2023. We use robust and flexible econometric methods that account for homoskedasticity, heteroskedasticity, multicollinearity, cross-sectional heterogeneity, and cross-sectional dependence. We find that the impact of ESG performance on market capitalization is positive and significant, irrespective of industry-specific and country-specific characteristics. Moreover, the relationship is linear but not non-linear, except for the mediating role of the cost of equity. We established an inverted U-shape curve relationship between the cost of equity and market capitalization.

ABSTRACT Sustainability challenges in the BRICS economies require a multidimensional perspective that captures how environmental quality, human capital, and financial systems jointly shape long‐term development outcomes. This study examines these relationships using genuine savings (GS) as a comprehensive indicator of sustainability from 2000 to 2024. Drawing on clean cooking fuel access, PM 2.5 exposure, forest area, female labor participation, domestic credit, and health expenditure, the analysis applies the method of moments quantile regression (MMQR) to uncover heterogeneous effects across the sustainability distribution. The results show that forest area and female labor participation consistently improve GS, while PM 2.5 and health expenditure exert negative pressures, particularly in countries positioned at lower sustainability quantiles. Domestic credit has a modest but positive influence, and the effect of clean cooking fuels weakens at higher quantiles. Robustness checks using OLS, HAC‐robust, and cluster‐robust estimators confirm the stability of the findings. The study highlights the need for targeted, country‐specific strategies that strengthen natural capital, expand gender‐inclusive labor markets, reorient health spending toward preventive systems, and improve the allocation of financial resources. These insights offer practical guidance for accelerating sustainable development transitions in the BRICS region.

Purpose The purpose of this study is to assess the macroeconomic consequences of banking sector competition for the Brazil, Russia, India, China and South Africa (BRICS) region, organized into two main areas of focus: economic growth and financial inclusion spanning the period 2005–2020. Design/methodology/approach While the annual growth rate of real per capita GDP is used to quantify economic growth, the financial inclusion index is constructed by applying the normalized inverse of the Euclidean distance to two fundamental aspects of an inclusive financial system: availability, and utilization of financial services. The study uses a pooled mean group autoregressive distributed lag approach, a methodology that has not been previously used to analyze both the competition-economic growth and competition-financial inclusion relationships. Findings Findings suggest that a rise in competition within the BRICS banking sector results in a decline in long-term economic growth. Greater competition induces greater risk-taking among banks via the franchise-value effect, resulting in inefficient capital allocation. Further, in line with the argument that banks have lesser incentives to perform comprehensive applicant evaluations in a highly competitive market, findings suggest that increasing competition leads to a decline in financial inclusion over the long term. Nevertheless, the impact of competition on economic growth and financial inclusion in the short term is insignificant. Originality/value Given the significant impact that banks had on the real macroeconomy during the global financial crises, the paper is one of the first to investigate whether banking sector competition hinders or promotes economic growth and financial inclusion both in the short- and long term.

This study explores the effect of human capital, foreign direct investment (FDI), renewable energy, and gross domestic product (GDP) on environmental sustainability in BRICS countries over the period 2000–2023. Using the DCCE estimator to account for cross-sectional dependence and heterogeneity, the results show that human capital and renewable energy significantly lower CO₂ emissions, highlighting their key role in environmental sustainability. In contrast, FDI and GDP growth contribute to higher CO₂ emissions, suggesting that economic expansion and foreign investment, in their current forms, may undermine environmental quality in the BRICS region. These results offer important policy implications. First, investment in human capital should be prioritized, with a focus on education, environmental awareness, and clean technology skills. Second, BRICS countries must accelerate the shift to renewable energy through supportive policies, infrastructure development, and incentives. Third, governments should encourage green FDI by imposing environmental standards and offering incentives for sustainable projects. Fourth, growth strategies must integrate environmental concerns, emphasizing low-carbon sectors and sustainable practices. Lastly, regional cooperation among BRICS nations can facilitate shared innovation and joint climate action. Aligning economic development with sustainability goals is crucial for ensuring long-term ecological resilience in these emerging economies.

This study examines maternal-child health outcomes, specifically infant, under-5, and maternal mortality rates in BRICS countries (Brazil, Russia, India, China, and South Africa) between 2000 and 2022, segmented into Millennium Development Goals (MDGs) and Sustainable Development Goals (SDGs) periods. Using Panel Corrected Standard Errors (PCSE) and Panel Quantile Regression estimators, the analysis identifies significant improvements in child mortality outcomes from the MDGs to the SDGs era, reflecting advancements in healthcare infrastructure and enhanced health policies. However, quantile regression results highlight persistent inequalities, with disproportionately poorer outcomes in nations with higher maternal mortality rates. The findings underline the continuing health disparities across BRICS nations, emphasising the importance of inclusive and equitable healthcare systems. Policymakers are encouraged to design targeted health interventions that address socioeconomic determinants, such as education, healthcare expenditure, immunisation coverage, and urbanisation, to improve maternal-child health outcomes. Strengthening healthcare delivery, particularly among vulnerable populations such as low-income families and children, is essential for reducing mortality rates and achieving broader health objectives within the SDGs framework. Ultimately, the study advocates integrated public health strategies that support sustainable progress towards equitable maternal and child health across the BRICS region.

Aims: This study elaborates on the structure and intensity of BRICS international trade as a reference for Indonesia in developing its export promotion policy. In detail, the objectives of the study are to analyze (i) the intensity of trade between BRICS regions, (ii) the development of the Indonesia-BRICS trade structure both in aggregate and by product groups, and (iii) the dynamics of the competitiveness of Indonesian products in the BRICS market and the market position by product groups. Methodology: The intensity of BRICS trade as an economic bloc is measured using the Regional Trade Introversion Index (RTII). The RCA Balassa and Market Position’s Edwards & Schoer are applied to determine the competitiveness and market position of Indonesia’s export product groups. Results: The study results indicate, among others, that (i) BRICS is not a trade bloc since BRICS countries are externally biased in their trade, with RTII values that are always negative, (ii) BRICS is an important trade partner of Indonesia with very rapid growth, and (iii) three groups of Indonesian export products enjoy a rising star position in the BRICS market, two product groups with a lagging retreat position and three product groups with a lagging opportunity position. The other seven product groups are better off being diverted from the BRICS market to other markets where demand for such products is increasing. Conclusion: Indonesia’s accession to BRICS membership has great potential to increase Indonesian exports, especially as BRICS develops into 10 countries with a greater diversity of economic structures.

BRICS countries, which cause 43.2 percent of global greenhouse gas emissions, are crucial in the world’s effort toward environmental sustainability. BRICS countries are among the world’s largest maritime traders and account for a good share of carbon emissions through shipping and the degradation of marine ecosystems. This research provides a novel contribution by examining the combined effect of energy intensity, innovation, blue economy activities and renewable energy on environmental sustainability for the period between 1990 and 2022 for BRICS nations under the shadow of ESG—economic, social and governance readiness. The key variables are energy intensity, renewable energy usage, innovation, blue economy and ESG readiness, with a critical focus on the environmental consequences. By applying Driscoll and Kraay’s robust adopting-type approach and panel quantile estimation, the findings indicate that adopting renewable energy and increased innovation significantly lowers GHG emissions across BRICS economies. The study further establishes that international ocean trade and fishing activities contribute to the deterioration of the environment through the overexploitation of resources and emissions resulting from shipping activities, with the consideration of these as the backbone of the blue economy. However, social and positive influences on sustainable practice in the BRICS region, as reflected through policy frameworks, economic development, and technical cooperation among members, positively influence the adoption of sustainable practices, thereby driving progress toward environmental goals. This study underlines the importance of continued technical cooperation among BRICS countries, with a commitment to sustainable innovation and a transition to renewable energy as essential strategies to reduce environmental degradation and enhance long-term sustainability.

The study investigated the impact of remittances on domestic investment within the BRICS region. It also explored the complementarity effect (remittance and financial development) on domestic investment using the same data set. The existing literature shows a lack of consensus; hence, their findings are mixed, inconsistent, and divergent, and they show an absence of consensus. The study employed fixed effects, fully modified ordinary least squares (FMOS), and pooled ordinary squares (OS). Panel data used ranged from 1989 to 2020. Using personal remittance inflow per capita as a proxy, remittance’s influence on domestic investment was positive and significant across all three panel methods. When personal remittances received were employed as a proxy, remittance’s impact on domestic investment was significantly deleterious under the pooled OS. Financial development significantly improved domestic investment, as observed by Pooled OS (all three models) and FMOS (model 3). Pooled OS (model 1) and FMOS (model 2) produced results that show that financial development improved remittances’ ability to significantly improve domestic investment. The study shows that remittances are a critical element in enhancing domestic investment in BRICS. BRICS nations are urged to develop policies that enhance financial development and remittance inflow to improve domestic investment.

Integrating artificial intelligence (AI) into teacher professional development (PD) is a promising way to enhance teaching practices and foster innovation in education. However, the development and adoption of AI-based educational platforms face unique challenges in the BRICS region, including technological infrastructure and cultural diversity. This study aimed to identify key aspects of teaching in developing an integrative AI-assisted adaptive learning environment (ALE) in the region. Theoretical methods were used along with qualitative analyses of in-depth interviews and focus group discussions of 36 professors, researchers, and experts from Iranian universities. The findings of this study provided perspectives on the feasibility and effectiveness of developing a joint AI-ALE platform, emphasizing the importance of contextualizing AI initiatives and educational approaches to the needs and constraints of each country and underscoring the significance of local training programs, understanding areas of growth, clarifying values and cultures to be shared with other parties, designing educational resources compatible with collaborative platforms, and overcoming technological barriers. The study provided recommendations on capacity building and joint partnerships for educational innovation, and the development of AI-based teaching practices to open up new opportunities for PD of the next generation of educators for the digital landscape in the BRICS area.

This research paper aims to determine the relationship between CO2 emissions, FDI, TR, TI, GCF, and LFPR on GDPP in the BRICS region, and finding emphases on the period between 2000-2023. The study further examined the relationship between the dependent and independent variable in the long-run and in the short-run by using the CS-ARDL. The outcomes from CS-ARDL reveal that CO2 emissions, FDI, TI, and GCF affect GDPP significantly. CO2 is, undoubtedly, an adverse phenomenon to the environment but corresponds to the increased level of industrial production and temporary EG. While trade and labor force participation rate have an insignificant relationship with GDP per capita. These findings mean that policy initiatives aimed at technology development, FDI attraction, and encouragement of capital investment should remain priorities in BRICS countries; at the same time, concerns about environmental issues such as CO2 emissions should also be on the agenda for sustainable long-run growth.

Research background: The increasing demand for energy, driven by economic growth and population expansion, is a critical driver of societal progress. However, the predominant reliance on fossil fuels to meet this demand presents significant challenges, particularly in the rapidly developing BRICS nations (Brazil, Russia, India, China, and South Africa). These countries are faced with a complex interplay of energy security and environmental sustainability issues, stemming from their substantial fossil fuel reserves and the associated environmental consequences. The challenges manifest as inequalities in access to clean energy, environmental degradation, and heightened vulnerability to the impacts of climate change. Addressing these multifaceted issues requires a comprehensive approach. Metrics-based strategies, which employ aggregated indices derived from a diverse set of energy and environmental indicators, have the potential to provide valuable insights into these complexities. However, the development of a universally applicable energy sustainability index is complicated by the heterogeneity of metrics, disparities between countries, and methodological challenges, emphasizing the need for an innovative and holistic analytical framework. Purpose of the article: This study aims to develop a tailored Energy Security and Environmental Sustainability Index for BRICS economies to evaluate the robustness of their energy systems and the viability of their ecological practices. The index serves as an instrument to assess the progress of these nations in the Energy and Environment domain and identify areas that require targeted interventions and improvements. Methods: The construction of the composite ESESI involves the selection of relevant parameters and the application of a Multi-Criteria Decision Analysis (MCDA) framework in conjunction with the Weighted Product Method (WPM). To ensure objectivity in the determination of optimal and least favorable weights for each indicator, the study employs the Multiplicative Data Envelopment Analysis (MDEA) model. Findings & value added: The ESESI analysis reveals disparities in the progress made by BRICS nations in enhancing energy security, promoting renewable energy deployment, and mitigating environmental impacts. While some countries demonstrate substantial advancements, others face challenges in improving energy efficiency and reducing carbon emissions. The study underscores the necessity for tailored policies and targeted infrastructural enhancements that align with the unique challenges and strengths of each nation. Harnessing the abundant renewable energy potential through advanced energy trade mechanisms and fostering cross-border investments are identified as crucial strategies for ensuring environmental sustainability and long-term energy in the BRICS region. The ESESI provides a valuable tool for policymakers and researchers to evaluate the progress of BRICS nations in achieving sustainable energy goals and to inform evidence-based decision-making processes. By offering a comprehensive and scientifically rigorous assessment framework, this study contributes to the ongoing discourse on sustainable energy transitions and environmental stewardship in the context of rapidly developing economies.

This study explores the impact of AI innovation, financial development, and the digital economy on the Load Capacity Factor (LCF) in BRICS nations from 2000 to 2019. Cross-sectional dependence and slope homogeneity tests reveal that the variables exhibit both dependence and heterogeneity. Panel unit root tests confirm stationarity, and a cointegration analysis establishes long-term relationships among the variables. The Panel ARDL method identifies a U-shaped relationship between income and LCF, supporting the LCC hypothesis. AI innovation and the digital economy positively influence LCF, promoting environmental sustainability. Conversely, financial development significantly reduces the LCF in both the short and long terms. To validate these findings, robustness checks using DKSE (Driscoll Kraay Standard Error), AMG (Augmented Mean Group), and CCEMG (Common Correlated Effects Mean Group) estimation techniques yield consistent results with the Panel ARDL analysis. Furthermore, the D-H causality test reveals unidirectional causal relationships from income, financial development, and the digital economy to LCF. It also identifies a bidirectional causal relationship between LCF and AI innovation. These findings highlight the dual role of AI and the digital economy in enhancing environmental sustainability while addressing the challenges posed by financial development in the BRICS nations.

Modelling the contribution of green technologies, renewable energy, economic complexity, and human capital in environmental sustainability: Evidence from BRICS countries

Abstract This study examines the moderating role of managerial ownership on environmental, social and governance (ESG) disclosures and the going concern of chemical manufacturing firms in Brazil, Russia, India, China, and South Africa (BRICS) countries. We employed a quantitative research methodology, using panel data from 236 listed firms operating in the chemical manufacturing sector between 2007 and 2022. For the analysis, we utilized the Augmented Mean Group and the Common Correlated Effects Mean Group estimators. The results showed that ESG disclosures significantly impact the continued existence of chemical manufacturing companies in BRICS nations. Additionally, high managerial ownership exerts a significant positive influence on the association between ESG disclosures and the going concern of chemical manufacturing firms. The findings affirm the need for businesses to disclose their ESG issues to stakeholders to ensure carbon neutrality goals for BRICS. Hence, it is recommended that policymakers and business owners promote and incentivize managerial ownership, recognizing its pivotal role in enhancing the positive relationship between ESG disclosure and firms' continuity, thereby contributing to the realization of carbon neutrality goals in the BRICS region.

Fin-tech indicators, mineral resources and green productivity: Role of human development and globalization in BRICS region

Influence of trade liberalization and digital trade on material footprint in the BRICS region

Implications for optimal abatement path through the deployment of natural resources, human development, and energy consumption in the era of digitalization

This study explores the potential of green digital finance and green agricultural growth to contribute to the green economic recovery of the BRICS economies. We examine the relationship between these variables using empirical data and various statistical techniques, including vector error correction, co-integration, unit root tests and long-run analysis. Our results suggest that well-functioning financial institutions play a crucial role in facilitating the structural transformation of green digital finance and promoting green agricultural growth to achieve green economic recovery in the BRICS region. Our findings underscore the need for pro-financial and green economic development policies and institutions to support and enhance economic recovery. Our results are robust and supported by our study. We also suggest future research directions for stakeholders interested in promoting sustainable economic growth in the BRICS countries.

In recent decades, the surge in greenhouse gas emissions has given rise to an increase in climate risk-related development finance. This research delves into the effect of renewable energy and climate risk-related development finance on greenhouse gas emissions in the BRICS region. Panel regression estimates were employed to uncover several noteworthy findings. Firstly, a slight yet significant surge in greenhouse gas emissions resulted from increased climate risk-related development finance. Secondly, augmented climate risk-related mitigation finance corresponded with a noteworthy upsurge in renewable energy usage. Thirdly, greater renewable energy consumption resulted in a considerable reduction in greenhouse gas emissions. Lastly, amplified renewable energy consumption alleviated the impact of climate risk-related mitigation finance on greenhouse gas emissions. These findings emphasize the necessity of efficiently utilizing climate finance in generating renewable energies like wind, biomass, geothermal, hydroelectric and solar energies. Additionally, it is recommended that benefactor nations and officials ensure a regular and uninterrupted flow of climate risk-related development mitigation finance to emerging nations.