Does agriculture, forests, and energy consumption foster the carbon emissions and ecological footprint? fresh evidence from BRICS economies

Protecting the environment is essential because a healthy ecosystem purifies air and water, maintains the soil, regulates the temperature, recycles nutrients, and provides food. However, when nations experience fast growth, they pay the utmost attention to their development and disregard the environmental and development-related consequences. The BRICS economies are examples of nations that have achieved high economic growth rates while polluting their environment via industrial expansion. Hence, this study aims to scrutinise the effects of forest rent, agricultural production, economic growth, and energy consumption on BRICS economies’ carbon emissions and ecological footprint from 1995 to 2017. We adopted panel spatial correlation consistent least-squares dummy variables (PSCC-LSDV) estimation and panel quantile regression (PQR) techniques to perform the above-mentioned comparative analysis. The first-hand empirical consequences revealed that agricultural production, renewable energy consumption, and financial development condense the carbon discharge, and the rest of the variables trigger the carbon emission. In addition, GDPC, forest rents, non-renewable energy consumption, and domestic investment damage the environmental prominence by instigating an ecological footprint, whereas the remaining variables oblige to moderate the ecological footprint. Finally, this study recommends rigorous policies to mitigate pollution emissions to help reinstate environmental eminence.