Do Energy Choices Shape Carbon Outcomes? A Study of Energy mix and CO₂ Emissions in BRICS

Abstract

Electric energy consumption has emerged as the fastest-growing form of energy worldwide, playing a pivotal role in driving the techno-economic and socio-economic development of nations. The debate around the role of R sources in reducing carbon emissions and fostering a cleaner environment remains active among scholars and policymakers. One of the most effective ways to diversify the energy mix is by integrating renewable sources. The study has employed the Hausman test, Breusch-Pagan test, Breusch–Godfrey test, Pesaran CD test, VIF, and Fixed Effects (Arellano robust standard errors) to assess the robustness of the model. This study focuses on BRICS nations from 1985 to 2023. The dependent variable is CE and the independent variables are NR, R, and U. The results of this study show a significant negative relationship of NR and R with CE, across all the models and Urbanisation has a positive significant relationship with CE. The study also revealed that the share of R sources is increasing in BRICS nations. The penetration of renewable sources, such as Solar and wind, is growing over time. The high coefficient highlights the importance of policies for R and NR sources. This study provides policy implications for BRICS, which can help other developing nations.