ECO-DRIVE: INVESTIGATING THE IMPACT OF ELECTRIC VEHICLES AND RENEWABLE ENERGY ON CARBON EMISSIONS IN BRICS

This study investigates the influence of electric vehicles (EVs) adoption and renewable energy integration on carbon emission within the BRICS nations (Brazil, Russia, India, China, and South Africa).The study made use of the data sourced from the World Development Indicators (WDI) and International Energy Agency [IEA] (2023) for the period 2011 -2023.The study employed the pooled OLS, PCSE, and FGLS econometric methods to analyze the relationship between EV market penetration, renewable energy capacity, and carbon dioxide emission.Findings reveal that EV adoption and renewable energy negatively impact carbon emission in BRICS countries.Specifically, a unit increase in the quantity of EVs is associated with an 8.10 unit decrease in CO2 emissions, while a unit rise in renewable energy capacity corresponds to a 0.42-unit reduction in emissions.These results confirm that the transition to electric mobility and clean energy sources plays a substantial role in curbing greenhouse gas emissions in these rapidly growing economies.Our research contributes to the growing body of literature on sustainable development in emerging markets and provides valuable insights for policymakers aiming to balance economic growth with environmental preservation in the BRICS nations.