The dynamics of green technological innovation and environmental policy stringency for sustainable environment in BRICS economies

Abstract The continuous rise in global economic growth (EG) and human activities has contributed to the release of CO 2 , emphasizing the crucial role of environmental policy stringency (EPS) in encouraging green innovation to lower CO 2 emissions levels and achieve environmental sustainability. This study aims to analyze the direct impacts of geopolitical risk (GPR), renewable energy consumption (RE), EPS, green technical innovation, and EG on CO 2 emissions in Brazil Russia, India, China, and South Africa (BRICS) economies on the dataset spanning from 1990 to 2020 using dynamic ordinary least square, fully modified ordinary least square, and method of moment quantile regression approach. The results demonstrate that stringent environmental regulations and the adoption of green technology are negatively associated with CO 2 emissions. Further, the interaction of INV*EPS also demonstrates a negative impact on CO 2 emission. In contrast, GPR and EG have a positive effect on CO 2 emissions. These findings suggest that it is imperative for the policymakers of BRICS economies to implement measures that effectively encourage the adoption of green innovative technologies through the adoption of robust policy initiatives. In general conclusion, the long‐term viability depends on the implementation of green innovations by enacting strict environmental regulations in the sample countries. Based on these findings study suggests that there is a need to prioritize the consumption of renewable energy sources, the adoption of rigorous environmental regulations, and the utilization of climate‐friendly technology to attain extensive and sustainable economic development. Furthermore, this study urges the attention of government officials and policymakers in these economies to redesign more effective strategies to address these potential challenges and safeguard the environment.