Evaluating the impact of natural resource rents, R&D expenditures, green finance and energy efficiency on carbon emissions in BRICS economies: Greening the path to carbon neutrality in the post-COP 27 era

IF 10.1 1区社会学 Q1 SOCIAL ISSUES

Technology in Society Pub Date : 2025-01-25 DOI:10.1016/j.techsoc.2025.102826

Nabila Amin , Arshian Sharif , Muhammad Salman Shabbir , Yanchun Pan

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引用次数: 0

Abstract

This study investigates the impact of natural resource rents, research and development expenditures, green energy, green technological innovation, economic growth, energy efficiency, and green finance on carbon emissions in the BRICS economies from 1995 to 2022. Utilizing data from the World Development Indicators (WDI) and OECD, the study employs a cross-sectional ARDL model to explore dependencies and correlations among these variables. Advanced panel methods of the second generation are used to account for potential cross-sectional dependencies and heterogeneity across the countries. The empirical findings reveal that while economic growth and natural resource rents exacerbate carbon emissions, research and development expenditure, green energy, green technological innovation, energy efficiency, and green finance support environmental sustainability. Notably, the Dumitrescu and Hurlin panel causality test uncovers bidirectional causal relationships between the key variables. Based on these findings, the study recommends several policy actions aligned with COP27 commitments: enforcing stricter CO₂ emissions regulations to meet SDG-13 (Climate Action), increasing investments in renewable energy and transitioning to green energy to achieve SDG-07 (Affordable and Clean Energy), supporting green innovation and enhancing R&D for SDG-09 (Industry, Innovation, and Infrastructure), promoting circular economy practices and sustainable production for SDG-12 (Responsible Consumption and Production), and expanding green finance mechanisms to facilitate sustainable economic growth and development. Additionally, the study advocates for international collaboration on green technology transfer, greater financial incentives for green investments, and strengthening the role of governments in integrating sustainability into economic and policy frameworks, in line with the global commitment to carbon neutrality by 2060.

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来源期刊

Technology in Society Multiple-

CiteScore

17.90

自引率

14.10%

发文量

316

审稿时长

60 days

期刊介绍： Technology in Society is a global journal dedicated to fostering discourse at the crossroads of technological change and the social, economic, business, and philosophical transformation of our world. The journal aims to provide scholarly contributions that empower decision-makers to thoughtfully and intentionally navigate the decisions shaping this dynamic landscape. A common thread across these fields is the role of technology in society, influencing economic, political, and cultural dynamics. Scholarly work in Technology in Society delves into the social forces shaping technological decisions and the societal choices regarding technology use. This encompasses scholarly and theoretical approaches (history and philosophy of science and technology, technology forecasting, economic growth, and policy, ethics), applied approaches (business innovation, technology management, legal and engineering), and developmental perspectives (technology transfer, technology assessment, and economic development). Detailed information about the journal's aims and scope on specific topics can be found in Technology in Society Briefings, accessible via our Special Issues and Article Collections.