Climate risk, natural resources, and climate change mitigation options in BRICS: implications for green recovery

Abstract

The study tests the dynamic nexus between climate risk, natural resource exploration strategy in BRICS economies, and climate change mitigation. The study further extended the research aim and presented the recommendations for greening the globe by suggesting green recovery. Climate change protection and climate risk reduction may be efficiently funded using climate risks and natural resources. Still, it is vital to look at the carbon risk in BRICS countries as an example. The researchers used the GMM analysis technique to infer the study findings. According to the study’s findings, environmental mitigation was significant at 17%, and financial strength and carbon risks were significant at 22.0%. In addition, the 20.5% association between climate risks and environmental drift in the BRICS nations highlights climate change concerns. A state’s financial strength is essential to execute green economic recovery strategies, one of the most highly regarded measures to reducing climate change and guaranteeing long-term economic status at the national level. As a result of the study on green economic growth, decision-makers are provided with specific policy recommendations.

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