Sustainable mining and the role of environmental regulations and incentive policies in BRICS

This study investigated the impact of environmental tax revenues and the green finance market on carbon dioxide (CO2) emissions in the BRICS nations from 2000 to 2020. The findings strongly supported the positive influence of the green finance market on enhancing sustainability in the mining sector. A 1% increase in the green finance market size correlated with a significant reduction in CO2 emissions, highlighting the vital role of financial backing for eco-friendly initiatives. However, the analysis of environmental tax revenues presented a nuanced perspective, revealing an unexpectedly negative impact on CO2 emissions with a 1% increase, suggesting potential trade-offs between revenue generation and stringent environmental regulations. Policy implications for BRICS nations include prioritizing green finance market growth, precise calibration of green tax policies, and sustained commitment to gradual and enduring green policies, accounting for observed temporal distinctions.