Towards Achieving Sustainable Development: Role of Technology Innovation, Technology Adoption and CO2 Emission for BRICS

Abstract

In the digital era, technology innovation and adoption trigger economic growth and enhance CO2 emissions through productivity, which places it in the mainstream policy debate. For BRICS economies, this paper uses the first method proposed in the literature to quantify their information and communication technology (ICT) and innovatively links each country to their information technology adoption rate, as a surrogate indicator for measuring information and communication technology. Environmental Kuznets curve evidence is also examined, using technology innovation, technology adoption, and trade openness as the control variables for sustainable development. The results show that two out of three technology innovation instruments, fixed telephone, and broadband subscriptions increase CO2 emissions. Simultaneously, mobile cellular subscriptions have a lowering effect on CO2 emission in BRICS. The technology adoption indicators, high-technology exports, and electric power consumption also cause an upsurge in CO2 emission. Moreover, trade openness also enriches the level of CO2 emission in the BRICS regions. There is a need to devise technology innovation and adoption policies to better use technology and to ensure a green environment.