Nexus Between Digital Economy and Environmental Sustainability in BRICS: Does Green Innovation Matter?

作者：Jun Wen, Hamid Mahmood, Samia Khalid, Muhammad Zakaria · 发表于：Business Strategy and the Environment · 年份：2025 · DOI：10.1002/bse.4243 · 被引用次数：14 · 研究领域：Energy, Environment, Economic Growth、Climate Change Policy and Economics、Energy, Environment, and Transportation Policies

ABSTRACT The digital economy has emerged as a significant driver of development in many countries, yet its impact on environmental sustainability remains a subject of debate among experts. Unlike previous studies, this research examines the influence of the digital economy on environmental sustainability while investigating the mediating role of green innovation in this relationship. Using a panel dataset from BRICS countries covering the period 2004–2020, this study explores the impact of the digital economy by employing digital finance and digital infrastructure as proxies. Advanced econometric techniques, including the Cup‐FM, Cup‐ BC , AMG, and CS‐ARDL methods, are applied to ensure robust panel data analysis. The findings reveal that, in the long run, digital finance, digital infrastructure, and green innovation exhibit a significant negative relationship with environmental degradation, thereby contributing positively to environmental sustainability in BRICS economies. Furthermore, mediation analysis using the Sobel, Aroian, and Goodman tests confirms that green innovation effectively mediates the impact of digital finance and digital infrastructure on environmental sustainability. However, the results also indicate that economic growth and population growth have a significant positive relationship with environmental degradation, highlighting their adverse effects on sustainability. Based on these findings, it is crucial for BRICS countries to implement policies and prog...