COP27 perspective of resources management: From conflict to COVID-19 of emerging countries.

ABSTRACT

Resources management in the modern era is a crucial perspective of a sustainable environment linked with sustainable development. Therefore, it is crucial to re-estimate the resources-environment management nexus in a new setting. Concerning environmental management from the COP27 perspective, economies are taking various economic, financial, and environmental steps to reduce hazardous emissions in the region. Recently, BRICS economies have invested in renewables and enhanced capital formation to accelerate environmental recovery. In this respect, this study tends to examine the influence of electricity from renewable resources (ELREC), resources management (resources rents), research and development (RDEV) and gross fixed capital formation (GFCF) on carbon emissions of the BRICS economies throughout 1989-2021. Using various diagnostic tests, this study confirms the long-run equilibrium association between the variables. This study uses non-parametric estimation approaches and concludes that ELREC and RDEV significantly enhance environmental sustainability. Except for forest and oil resources, the rest of the forms of the resources increase emissions. On the other hand, economic growth and GFCF significantly lead to higher emissions, which degrades the environment. Resources rents also contribute to increasing carbon emissions.