Green recovery in BRICS economies: The role of mineral resources, energy productivity, and green innovation in sustainable development

Abstract

Mineral resources are important for economic development, significantly impacting industrial growth and presenting complex challenges such as resource scarcity and environmental sustainability. In this context, the present study explores the linkage between natural resources rents, energy productivity, eco-innovation, and carbon emissions considering BRICS economies. Using data from 1990 to 2021, the result of the present study shows that natural resources rent, and economic growth contribute to environmental pollution, indicating that revenues from natural resources in BRICS economies are used for economic expansion, thus leading to carbon emissions. In contrast, green innovation and energy productivity significantly reduce carbon emissions and improve environmental quality. Similarly, renewable energy supply also contributes to the improvement of environmental quality. Our research highlights the critical need for policies that not only restore natural resources and enhance green innovation to boost energy productivity but also address the negative impact of these innovations on carbon emissions while acknowledging that natural resource rents can exacerbate these emissions.