Citation:

Snehashis Samantaray, Amritkant Mishra, Ajit Kumar Dash. "Does Renewable Energy Consumption Lead to Low Carbon Emissions? Evidence from BRICS Countries" International Research Journal of Economics and Management Studies, Vol. 3, No. 1, pp. 263-272, 2024.

Abstract:

Through the use of the ARDL model, this empirical analysis seeks to determine how the use of renewable energy affects carbon emissions in the BRICS nations between 1990 and 2020. With the exception of Brazil, all BRICS countries exhibit a long-term correlation between their use of renewable energy and their carbon emissions, according to the exact outcome of the bound test. On the other hand, the outcome of the short-run analysis exhibits that renewable energy consumption leads to a fall in carbon emissions in Russia, India, China, and South Africa. The final finding of the long-term analysis reveals that renewable energy use has a negative influence on carbon emissions in India but not in the other BRICS countries. From a policy perspective, the current investigation suggests that policymakers need to rethink their perception of renewable energy to mitigate carbon emissions.

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Keywords:

Carbon Emissions, Energy Consumptions, BRICS Countries.