DRIVING SUSTAINABLE DEVELOPMENT: EMPIRICAL EVIDENCE ON RENEWABLE ENERGY INNOVATION AND CARBON INTENSITY REDUCTION IN BRICS ECONOMIES

This study empirically examines the role of renewable energy innovation in promoting green GDP growth while reducing carbon intensity within BRICS economies. Utilizing panel data econometrics and dynamic System GMM estimation over the period 2010–2022, the analysis integrates innovation indices, patent data, and R&D expenditures to capture technological progress. Results indicate that renewable energy innovation significantly enhances green economic growth, supported by complementary factors such as human capital, financial development, and foreign direct investment, while carbon emissions from energy use negatively impact growth. These findings underscore the critical importance of fostering innovation ecosystems, strengthening human capital, and improving institutional frameworks to accelerate sustainable development in emerging markets. Policy recommendations include targeted investments in clean technology R&D, financial incentives for green innovation, and regulatory reforms to attract quality FDI for sustainable energy transitions.