The Role of Sustainable Development in EmergingEconomies: An Examination of Environmentaland Economic Indicators

Efficient use of financial and natural resources is crucial for mitigating environmental damage and fostering economic growth, particularly in emerging economies.Grounded in the theoretical framework of sustainable development and environmental Kuznets curve (EKC), this study examines the dual impact of renewable and non-renewable energy consumption on economic growth and greenhouse gas emissions in six BRICS countries -South Africa, Brazil, India, China, Russia -and Turkey from 2000 to 2022.We apply a dynamic panel data analysis that integrates resource-based theory and endogenous growth theory, employing descriptive analysis, correlation, and econometric model tests to analyze the cross-sectional dependency between natural resource development, financial development, globalization, economic growth, and emissions.Acknowledging the limitation of aggregate data, which may obscure regional or sectoral variations, the study uncovers that renewable energy positively impacts both economic growth and environmental sustainability, while non-renewable energy and globalization contribute to environmental degradation.The findings underscore that economic growth, globalization, and financial advancements are influenced by energy consumption patterns, with renewable energy offering a pathway to sustainable prosperity.Policy recommendations emphasize expanding renewable energy investments and adopting adaptive economic strategies to harmonize growth with environmental protection in the BRICS countries.