Unveiling the Link between Macroeconomic Indicators and Carbon Emissions in BRICS Economies

Abstract

Carbon emissions have serious environmental and social effects, particularly in rising economies. Because of the issue of emissions and economic expansion, a better knowledge of the dynamic link between growth of economy & carbon emissions is required. This study explores the strong association between macroeconomic parameters &carbon emissions in Brazil, Russia, India, China, and South Africa (BRICS). The article employed a nonlinear panel quantile regression model using panel data spanning 2010 to 2023 to assess the impact of energy mix, prosperity, and digitalization on carbon emissions in BRICS countries. The data indicate that a higher energy mix ratio leads to lower carbon emissions.