The impact of clean energy consumption on economic growth and CO < inf > 2 < /inf > emissions in BRICS countries: Does the environmental Kuznets curve exist?

Abstract

This paper examines the impact of clean energy consumption (CEC) on economic growth (EG) and CO2 emissions (CO2) within a framework of environmental Kuznets curve (EKC) hypothesis in a panel of BRICS countries for the period 1992–2014. The results indicated that CEC and EG have a significant positive impact on EG, while CO2 has a negative impact on it. Our results also found that EC and EG increase CO2 while CEC significantly reduces it. Further, we found that the EKC hypothesis is valid in the BRICS countries. Finally, panel causality test indicated that unidirectional causality running from EC to EG. However, we did not find a causal relationship between CEC and EG. Based on these results, some of the policy implications have proposed for these emerging market economies.