The role of natural resources, and economic development in evaluating the environmental effects of biofuel and waste energy generation in the group of BRICS

Xue Gong and Muhammad Umar Aslam

Applied Energy, 2024, vol. 372, issue C, No S0306261924012297

Abstract: The green energy sources such as biomass conversions and waste energy have shown great potential in environmental management. This article aims to examine the changes brought about by the production of biofuel and the management of solid fossil waste over the past forty years, and to analyze the significant roles that natural resources and economic factors have played in the BRICS countries (Brazil, Russia, India, China, and South Africa) from 1990 to 2021. To achieve accurate and feasible results, second-generation econometric methodologies were applied. The Driscoll-Kraay standard errors (DKSE) approach revealed a significant negative relationship between biofuel production and environmental damage through waste management. Thus, an increase in biofuel production is associated with a reduction in environmental degradation in the region. Furthermore, the results indicate that environmental degradation (ED), the dependent variable, is still positively correlated with natural resources, urbanization, trade, and economic growth. As the financial sector struggles to address environmental threats, stringent monitoring of financial control measures and provisions for environmental issues is necessary. To achieve sustainable development, BRICS member countries need to address the issues of natural resource exhaustion and over-exploitation. The findings of this research suggest policy support for sustainable redevelopment, which should be goal-oriented and backed by the central authorities of the respective countries.

Keywords: Biofuel and waste energy; Environmental pollution; Economic growth; Natural resources; BRICS (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0306261924012297
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:372:y:2024:i:c:s0306261924012297

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/bibliographic
http://www.elsevier. ... 405891/bibliographic

DOI: 10.1016/j.apenergy.2024.123846

Access Statistics for this article

Applied Energy is currently edited by J. Yan

More articles in Applied Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().