Although the momentous rise in ICT-trade and financial development in BRICS, but their effect on green growth and carbon neutrality have not been explored. This study, thus, examines the effects of ICT-trade and bank credit on green growth and carbon neutrality in BRICS using CS-ARDL over the period 1996–2019. Empirical results prove that ICT-trade significantly increases green growth and reduces carbon emissions. More bank credit promotes green growth by reducing carbon emissions in long-run. Findings also showed that education boosts green growth and mitigate significantly carbon emissions. We also obtained consistent results from PMG-ARDL. Moreover, the stock market is found to have a negative impact on carbon emissions. The results of the PMG-ARDL method show that R&D increases green growth and reduces carbon emissions. Our outcomes may further strengthen the belief of policymakers in BRICS economies on the promotion of green growth.
Technology innovations and financial development are the tools to achieve sustainable development goals (SDGs) in the carbon neutrality process; however, such nexus has lacked evidence, particularly in top-polluting economies countries. The current study examines the effectiveness of technological innovation and financial institutions on renewable energy consumption and green growth in top-polluting economies by using the cross-sectional Autoregressive Distributive Lag (CS-ARDL) method over the period from 1991 to 2019. The findings show that in the long-run, technological progress and financial institutions are major drivers of renewable energy consumption of top-polluting economies. Moreover, the study shows that technological progress, financial institutions, education, and public spending foster green growth in top-polluting economies in long-run. Top-polluting economies need to improve energy technology innovation and financial institutions for achieving green growth and carbon neutrality targets.
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