Greening the Brazil,Russia, India,China and South Africa (BRICS) economies: Assessing the impact of electricity consumption,natural resources,and renewable energy on environmental footprint |
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| Authors: | Atif Jahanger Ashar Awan Ahsan Anwar Tomiwa Sunday Adebayo |
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| Institution: | 1. School of Economics, Hainan Open Economy Research Institute, Hainan University, Haikou, China;2. Kashmir Institute of Economics, University of Azad Jammu and Kashmir, Muzaffarabad, Pakistan;3. Business Administration Department, Faculty of Management Sciences, ILMA University, Karachi, Pakistan;4. Faculty of Economics and Administrative Science, Cyprus International University, Nicosia, Turkey |
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| Abstract: | Electricity consumption is a crucial factor in the environmental pollution process, and therefore, its impact needs to be carefully considered by policymakers. This study investigates the relationship between energy consumption, electricity generation, natural resource utilization, and environmental pollution in BRICS nations, which have a substantial share in global resource consumption. To this end, we employed a novel methodology, namely the Method of Moment Quantile Regression (MMQR), for the time period between 1990 and 2018, within the framework of the Environmental Kuznets Curve (EKC) theory. The study's outcome shows that natural resources and renewable energy are efficacious and significant in curbing environmental degradation among the sample countries. The investigation reveals a positive correlation between electricity consumption and environmental degradation, thereby highlighting this vital resource's role in exacerbating the BRICS nations’ ecological footprint. The findings from this research can provide crucial insights for policymakers to achieve sustainable development and carbon neutrality in these countries. |
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| Keywords: | ecological footprint EKC hypothesis electricity consumption natural resources renewable energy |
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