Track: Energy

Abstract

Fossil fuel emissions have become a major concern for many countries worldwide. The adoption of renewable sources of energy is vibrant with sophistication in the field of renewable automobile engine technology innovations. Many countries have been investing large amounts of money in improving their economy and as result of this, CO2 emissions is increasing exponentially. So, the fossil fuels are being used at a faster rate and we are definitely going to run out of them faster than expected. Investing in other greener forms of energy becomes very important in such a situation. Many countries have come together in this regard and have stated making policies and holding meetings regularly to check the damage. But the reforms that have been taken have not been very effective as they have not lead to the required results. The aim of this paper is to sketch out the growth pattern of renewable energy in recent past and to find its correlation with CO2 emissions in BRICS nations. Data from the past 15 years for all the BRICS nations is taken and regression analysis is done with CO2 emissions to determine the impact of one on another. Results show that shifting to greener forms of energy is not the only way to reduce CO2 emissions. Recommendations are also suggested for renewable energy adoption and usage for each of the BRICS nation.