How do environmental technologies affect green growth? Evidence from BRICS economies

Green growth has become one of the best alternative strategies for sustainable development. Although environmental technologies play a fundamental role in green growth, further investigations are required to understand whether and how environmental technologies affect green growth. Therefore, this study explores the role of environmental technologies in green growth by controlling renewable and non-renewable energy consumption for BRICS countries. To this end, the study conducts advanced panel data estimation techniques that produce robust results against endogeneity, heteroskedasticity, and cross-sectional dependence issues. Empirical results show that environmental-related technologies positively contribute to green growth. Results also confirm that renewable energy promotes green growth, but non-renewable energy is detrimental to green growth. BRICS countries need to improve innovations in the energy sector for achieving green growth and sustainability targets.