CO2 emissions in BRICS countries: what role can environmental regulation and financial development play?

Muhammad Awais Baloch () and Danish ()
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Muhammad Awais Baloch: Baoji University of Arts and Sciences
Danish: Guangdong University of Foreign Studies

Climatic Change, 2022, vol. 172, issue 1, No 9, 14 pages

Abstract: Abstract To ensure sustainability, it is necessary to achieve carbon emission mitigation goals without compromising economic growth. Assessing whether the BRICS countries, which are rapidly growing in terms of economy and carbon emissions, are moving toward achieving sustainable developing goals, through important policy measures and their implementation, is necessary. For this purpose, this study investigates the impact of environmental regulation and financial development on carbon emissions in BRICS countries from 1995 to 2016, employing the most recent data estimation technique common correlated effect means group (CCEMG). The empirical results reveal that financial development contributes to carbon emissions, whereas environmental regulations are also found to degrade the environment by stimulating carbon emissions. Important policy insights are suggested for policymakers to counter environmental challenges.

Keywords: Financial development; Environmental regulations; CO2 emissions; CCEMG; BRICS (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s10584-022-03362-7

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