Navigating the Climate Maze: BRICS’ Uncertain Path

This study investigates the effect of climate policy uncertainty on CO 2 emissions in BRICS countries from the first quarter of 2000 to the second quarter of 2024. Using Gavriilidis’ (2021) climate policy uncertainty (CPU) index and Quantile-on-Quantile Regression (QQR), the findings indicate that CPU has varying effects, both positive and negative, across different quantiles, notably within the 0.1-0.35 and 0.40-0.80 ranges. The results highlight the importance for stakeholders to account for CPU when making decisions related to carbon emissions and environmental sustainability, as it impacts investment, innovation, and market dynamics.