Decarbonizing Growth: Nuclear Energy, Green Investments, and CO₂ Emissions in BRICS Economies

This study investigates the complex interrelationship between Nuclear Energy and Engineering (RENER), climate financing (CFIN), green energy (GE), and GDP in achieving sustainable environmental prosperity among BRICS countries over the period 2000–2020. Motivated by the escalating environmental challenges and uneven integration of green policies across BRICS nations, the research aims to assess how RENER adoption, supported by CFIN and GE, affects carbon emissions (CO2) and economic outcomes. Using robust panel econometric techniques—including Modified Median Quantile Regression (MMQR), AMG, and CCEMG models—the study analyses data from Brazil, Russia, India, China, and South Africa, addressing cross-sectional dependence and slope heterogeneity. Empirical findings reveal five key insights: (1) RENER significantly increases GDP across quantiles but is also positively associated with CO2 emissions, indicating an environmental trade-off; (2) CFIN has a strong negative effect on emissions, confirming its role in sustainable energy transition; (3) GE negatively correlates with CO2 emissions, reinforcing its ecological benefits; (4) GDP growth, while positive for prosperity, contributes to environmental stress; and (5) there is strong cointegration among all variables, implying long-term equilibrium relationships. The study concludes by advocating for tailored, country-specific policies that enhance access to CFIN, modernise grid infrastructure, and integrate subnational frameworks to harmonise growth with environmental targets.