1Research Scholar at Department of Commerce, University of Kashmir, Srinagar, J&K, Email: rafifarooq786@gmail.com
2Research Scholar at Department of Commerce, University of Kashmir, Srinagar, J&K, Email: amir.scholar@kashmiruniversity.net
3Assistant Professor, Department of Commerce, University of Kashmir, Srinagar, J&K, Email: chistikhalid@kashmiruniversity.ac.in, respectively
Online Published on 08 February, 2024.
There is a worldwide push to create a business climate that encourages sustainable economic practices. The concern motivated this study to look at the impact of various economic factors on the environment and more specifically the role of institutional quality in the promotion of a sustainable environment in BRICS economies from 1996 to 2019. We use PMG/ARDL and FMOLS panel techniques, to demonstrate that a strong institutional mechanism may drastically cut down on carbon emissions. When utilized as the moderator of institutional quality, financial development, which typically raises emissions, dramatically reduces CO2. However, both GDP and FD are harmful to a healthy ecosystem in the long run. To ensure that policies are carried out to successfully address environmental deterioration, we recommend that institutions be made strong and open.
Environmental substantiality, Carbon emission, Institutional quality, Financial development
