Abstract
This paper explores the relationship between renewable energy consumption, urbanization, human capital, trade, natural resources, and material footprint for BRICS countries from 1990 to 2016. We apply the cross-sectional dependency test to check the correlation among the cross-section. Then, we use the second-generation panel test like CADF and CIPS to check the stationary in the series. After that, we go for the panel cointegration test, i.e., Pedroni and Westerlund panel cointegration, to know the long-run relationship of the variable. The test results reject the null hypothesis of no cointegration among the variables and accept cointegration. The long-run results indicate that economic growth, natural resources, renewable energy, and urbanization have reduced the environmental quality for BRICS countries in case of material footprint employed to measure environmental degradation. However, foreign trade, human capital improves environmental quality. Based on the empirical results, the study recommended some important policy suggestions to achieve sustainable development in BRICS countries.
Analysis of the response of environmental investment effects on environmental quality regarding social and human capital changes in Iran
