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The environmental repercussions of financial development and green energy in BRICS economies: From the perspective of new composite indices.

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Title: The environmental repercussions of financial development and green energy in BRICS economies: From the perspective of new composite indices.
Authors: Fakher, Hossein Ali1 (AUTHOR) imanfakher@yahoo.com, Nathaniel, Solomon Prince2,3 (AUTHOR), Ahmed, Zahoor4,5 (AUTHOR), Ahmad, Mahmood6,7 (AUTHOR), Moradhasel, Niloofar8 (AUTHOR)
Source: Energy & Environment. May2026, Vol. 37 Issue 3, p1683-1706. 24p.
Subject Terms: *Index numbers (Economics), *Clean energy, *Economic expansion, *Renewable energy sources, *Capital market, *Fossil fuels, *Environmental quality
Geographic Terms: BRICS countries, India, China, Brazil, Russia, South Africa
Abstract: This study is significant because it fills the gap in future literature by looking at the panel of 5 Brazil, Russia, India, China, and South Africa (BRICS) economies regarding the important role of financial development (FD) in environmental deterioration under the holistic measures of FD and environmental quality, something that has been largely overlooked in preceding studies. Consequently, this study explores the environmental effects of FD, employing a composite environmental quality proxy (CEQP) and a composite FD proxy (CFDP). In pursuit of this objective, the continuously updated fully modified (Cup-FM) and continuously updated bias corrected (Cup-BC) procedures are applied. These procedures enabled us to comprehensively explore the dynamic interactions between the combined index for FD and CEQP controlling agricultural activities, economic growth, renewable energy consumption, and nonrenewable energy consumption (NREC) in the panel of 5-BRICS economies from 2005 to 2019. The empirical results show that CFDP appeases environmental deterioration and thus improves environmental quality. The agricultural activities intensify environmental deterioration. The analysis also reveals a U-shaped relationship between the CEQP and economic growth (inverted U-type environmental Kuznets curve hypothesis) for the BRICS nations. Additionally, renewable energy improves environmental quality, whereas NREC decreases it. As supported by the results of the study, BRICS policymakers should encourage the financial sector to support green energy initiatives and achieve environmental stability. [ABSTRACT FROM AUTHOR]
Database: Energy & Power Source
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DbLabel: Energy & Power Source
An: 193364260
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PubTypeId: academicJournal
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  Label: Title
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  Data: The environmental repercussions of financial development and green energy in BRICS economies: From the perspective of new composite indices.
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  Data: <searchLink fieldCode="AR" term="%22Fakher%2C+Hossein+Ali%22">Fakher, Hossein Ali</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> imanfakher@yahoo.com</i><br /><searchLink fieldCode="AR" term="%22Nathaniel%2C+Solomon+Prince%22">Nathaniel, Solomon Prince</searchLink><relatesTo>2,3</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Ahmed%2C+Zahoor%22">Ahmed, Zahoor</searchLink><relatesTo>4,5</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Ahmad%2C+Mahmood%22">Ahmad, Mahmood</searchLink><relatesTo>6,7</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Moradhasel%2C+Niloofar%22">Moradhasel, Niloofar</searchLink><relatesTo>8</relatesTo> (AUTHOR)
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  Data: <searchLink fieldCode="JN" term="%22Energy+%26+Environment%22">Energy & Environment</searchLink>. May2026, Vol. 37 Issue 3, p1683-1706. 24p.
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  Data: *<searchLink fieldCode="DE" term="%22Index+numbers+%28Economics%29%22">Index numbers (Economics)</searchLink><br />*<searchLink fieldCode="DE" term="%22Clean+energy%22">Clean energy</searchLink><br />*<searchLink fieldCode="DE" term="%22Economic+expansion%22">Economic expansion</searchLink><br />*<searchLink fieldCode="DE" term="%22Renewable+energy+sources%22">Renewable energy sources</searchLink><br />*<searchLink fieldCode="DE" term="%22Capital+market%22">Capital market</searchLink><br />*<searchLink fieldCode="DE" term="%22Fossil+fuels%22">Fossil fuels</searchLink><br />*<searchLink fieldCode="DE" term="%22Environmental+quality%22">Environmental quality</searchLink>
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  Label: Geographic Terms
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22BRICS+countries%22">BRICS countries</searchLink><br /><searchLink fieldCode="DE" term="%22India%22">India</searchLink><br /><searchLink fieldCode="DE" term="%22China%22">China</searchLink><br /><searchLink fieldCode="DE" term="%22Brazil%22">Brazil</searchLink><br /><searchLink fieldCode="DE" term="%22Russia%22">Russia</searchLink><br /><searchLink fieldCode="DE" term="%22South+Africa%22">South Africa</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: This study is significant because it fills the gap in future literature by looking at the panel of 5 Brazil, Russia, India, China, and South Africa (BRICS) economies regarding the important role of financial development (FD) in environmental deterioration under the holistic measures of FD and environmental quality, something that has been largely overlooked in preceding studies. Consequently, this study explores the environmental effects of FD, employing a composite environmental quality proxy (CEQP) and a composite FD proxy (CFDP). In pursuit of this objective, the continuously updated fully modified (Cup-FM) and continuously updated bias corrected (Cup-BC) procedures are applied. These procedures enabled us to comprehensively explore the dynamic interactions between the combined index for FD and CEQP controlling agricultural activities, economic growth, renewable energy consumption, and nonrenewable energy consumption (NREC) in the panel of 5-BRICS economies from 2005 to 2019. The empirical results show that CFDP appeases environmental deterioration and thus improves environmental quality. The agricultural activities intensify environmental deterioration. The analysis also reveals a U-shaped relationship between the CEQP and economic growth (inverted U-type environmental Kuznets curve hypothesis) for the BRICS nations. Additionally, renewable energy improves environmental quality, whereas NREC decreases it. As supported by the results of the study, BRICS policymakers should encourage the financial sector to support green energy initiatives and achieve environmental stability. [ABSTRACT FROM AUTHOR]
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RecordInfo BibRecord:
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    Identifiers:
      – Type: doi
        Value: 10.1177/0958305X241270216
    Languages:
      – Code: eng
        Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 24
        StartPage: 1683
    Subjects:
      – SubjectFull: Index numbers (Economics)
        Type: general
      – SubjectFull: Clean energy
        Type: general
      – SubjectFull: Economic expansion
        Type: general
      – SubjectFull: Renewable energy sources
        Type: general
      – SubjectFull: Capital market
        Type: general
      – SubjectFull: Fossil fuels
        Type: general
      – SubjectFull: Environmental quality
        Type: general
      – SubjectFull: BRICS countries
        Type: general
      – SubjectFull: India
        Type: general
      – SubjectFull: China
        Type: general
      – SubjectFull: Brazil
        Type: general
      – SubjectFull: Russia
        Type: general
      – SubjectFull: South Africa
        Type: general
    Titles:
      – TitleFull: The environmental repercussions of financial development and green energy in BRICS economies: From the perspective of new composite indices.
        Type: main
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          Name:
            NameFull: Fakher, Hossein Ali
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            NameFull: Nathaniel, Solomon Prince
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            NameFull: Ahmed, Zahoor
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            NameFull: Ahmad, Mahmood
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            – D: 01
              M: 05
              Text: May2026
              Type: published
              Y: 2026
          Identifiers:
            – Type: issn-print
              Value: 0958305X
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              Value: 37
            – Type: issue
              Value: 3
          Titles:
            – TitleFull: Energy & Environment
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