Empowering sustainability practices through energy transition: The role of digital economy and technological innovation among BRICS economies

Muhammad Awais Baloch, Yiting Qiu and Zilu Guo

Australian Economic Papers, 2024, vol. 63, issue 2, 283-301

Abstract: Achieving sustainable development targets requires major changes in the existing economic structure and a transition from a pollution‐intensive energy system to a clean one. The role of the digital economy (DE) in this regard has received much attention in recent eras. However, there is little literature investigating the relationship between the DE and the energy transition in the presence of technological innovation. This study's aim, grounded in the sustainability agenda, is to explore the possible impact of DE and technological innovation on the energy transition for the BRICS nations from 2003 to 2021. Using the most recent Moments Quantile Regression method, the results reveal that the DE can contribute significantly to achieving SDG‐7 by promoting energy transition. While technological innovation does not significantly influence the energy transition. Moreover, economic development is hindering the energy transition in the BRICS countries. Several alternative estimation methods have been applied to confirm the robustness of the results. The empirical results conclude that governments should build digital infrastructure and encourage innovation in the energy sector by supporting energy‐related patents. The detailed policy implications are presented in the study.

Date: 2024
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https://doi.org/10.1111/1467-8454.12330

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