Assessing the environmental sustainability corridor: An empirical study of Renewable energy consumption in BRICS nation

Abstract

Abstract The signing of the Kyoto Protocol Agreement in 1997 re-ignited the worldwide attention on renewable energy resources. As a result, the world’s use and production of renewable energy have progressed dramatically since then. As a consequence, rapid advances in economics and society are taking place over the world. Contrary to popular belief, the use of renewable energy is not exclusive to industrialised countries. A growing number of developing countries are turning to renewable energy sources as a means of boosting their economies and improving their lives. Even though the BRICS countries’ use and production of renewable energy are still in their infancy, these nations are making significant efforts to advance these resources. The study’s originality is mostly due to the comparison of BRICS nations’ renewable energy use. From 1993 until 2020, several research articles were used to build a panel of data from the BRICS states. The utilisation of renewable energy by the BRICS countries varies statistically significantly, according to an ANOVA analysis of that data.