Do green finance shocks reduce emissions? Nonlinear evidence from BRICS countries

Abstract This research aims to investigate the intricate relationships among key economic variables within the BRICS (Brazil, Russia, India, China, and South Africa) economies during the period 1992–2022. The study scrutinizes the interplay between green finance (GF), non-renewable energy (NRE) consumption, foreign direct investment (FDI), gross domestic product (GDP), and carbon dioxide (CO 2 ) emissions. The analysis leverages the symmetric and asymmetric autoregressive distributed lags (ARDL)