Achieving regional sustainability and carbon neutrality target in Brazil, Russia, India, China, and South Africa economies: Understanding the importance of fiscal decentralization, export diversification and environmental innovation

Abstract Reaching decarbonization goals has become a top focus for several industrialized and emerging economies globally. The greatest effect of human behavior is global warming. Utilizing fiscal decentralization (FDST), export diversification (EDI), environment‐related technological innovation (ERTI) may be necessary to address pollution accomplish environmental sustainability goals. Additionally, these strategies could aid various levels government nations in pursuing what they define as sustainable development. This study evaluates the combined benefits FDST, EDI ERTI meeting Brazil, Russia, India, China, South Africa ( BRICS ) from 1970 2020. Using augmented mean group method, long‐run dynamic equilibrium between chosen variables examined. findings demonstrate that while adoption renewable energy (REC) environment, EDI, economic growth exacerbate deterioration. Our suggest countries should proceed cautiously when adopting FDST plans. REC promoted by increase sustainability.