A Comparative Study of the Environmental, Social, and Governance Impacts of Renewable Energy Investment on CO 2 Emissions in Brazil, Russia, India, China, and South Africa

Zhaoming Bi and Rabnawaz Khan ()
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Zhaoming Bi: International Business and Financial Management, Internet Business School, Fujian University of Technology, Fuzhou 350011, China
Rabnawaz Khan: International Business and Financial Management, Internet Business School, Fujian University of Technology, Fuzhou 350011, China

Energies, 2024, vol. 17, issue 23, 1-30

Abstract: The issue of climate change and global warming is rapidly intensifying due to the extensive emissions of CO 2 . In response to this, countries worldwide are implementing policies to enact decarbonization strategies through social and governance investing strategies. The current study examined the effects of environmental, social, and governance investing, eco-innovation, renewable energy production and consumption, and carbon taxes from 2004 to 2023. At the highest, middle, and lowest levels, this paper examines the environmental policies, social and governance economies, and energy of the BRICS nations. We investigate variable relationships through cross-sectional autoregressive distributed latency. The results suggest that Brazil’s focus on sustainability-driven innovation, along with its high renewable energy balance and middle-level status, is indicative of significant environmental initiatives. India’s higher-ups prioritize green finance, and their investments in environmental, social, and governance areas may demonstrate their commitment to sustainable development. China has made considerable progress in renewable energy and carbon trading despite its vast population and high emissions. At a lower level, Russia’s sustainability initiatives are undergoing evolution and have the potential to make significant strides. The nation’s difficulties require a coordinated, long-term strategy. The empirical findings imply that BRICS countries can achieve carbon neutrality by modifying their economic growth and globalization strategies and increasing their focus on renewable energy, as well as investment and policy regulations.

Keywords: CO 2 emissions; environmental; social; sustainable innovation; renewable energy; policy intervention (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
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