Assessing energy transition effectiveness in CO2 emission reduction: A novel indicator for BRIC nations

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The purpose of this study is to investigate how different levels of energy transition affect CO2 emissions for the BRIC countries. In this direction, the new quantile-on-quantile technique is applied to analyze the years of 1985–2021. To assess resilience, the marginal impacts of the energy transition on the environment are also investigated using a machine learning approach in conjunction with a Kernel-based regularized least squares technique. Based on the results of empirical assessments, the process of energy transition lowers CO2 emissions across all nations. Additionally, for Brazil, the emission-reducing effect of the energy transition appears to be more pronounced in the upper quantiles of the energy transition. On the other hand, the effect is stronger in the upper quantiles of the emission level for China and India. Moreover, it is concluded that this effect loses its strength in the upper quantiles of the emission for Russia.