1 Introduction

Globalization, energy consumption, and technological innovation (referred to as TI) have all increased dramatically over the past 20 years in both wealthy and developing nations [1, 2]. At present, all countries are trying to improve their technology transfer to trade and capital management to achieve ES [3]. Specifically, globalization has both positive and harmful features. For example, it contributes to ecological imbalances, and contamination from carbon dioxide emissions (hereafter called CDE), and is a major factor in global climate change [4]. Similarly, TI is known to improve the current technological methods but also affect the environmental quality [5]. Regarding energy consumption techniques, countries worldwide are now adopting green methods for reducing CDE through green renewable resources [6].

Similarly, foreign aid is also essential in understanding ES, even if it is considered from the perspective of return and equity principles [7]. The priority for every developed economy before deciding whether they need foreign aid or not is the investment of aid in ES [8]. In particular, regarding the usage of foreign aid, government policies and regulations also play a crucial role.

Thus, the importance of globalization, TI, energy consumption, and foreign aid is undeniable for understanding the ES. ES is a key research topic and is strongly linked to human activities and biodiversity [9]. Further, the primary reason for concern about humanity's future is to obtain sustainable green economic growth. Due to the severe environmental changes and their impact on health, several researchers and academicians are emphasizing the importance of achieving ES [10]. For this purpose, this research aims to examine key factors' role in obtaining the ES.

Moreover, countries worldwide are struggling to decrease greenhouse gas and CO2 gas emissions to achieve the milestone of ES. In particular, the countries in the BRICS region are transforming their industrial sector into the energy efficiency sector for producing green products and services [11]. Moreover, to reduce the adverse impacts of international trade, BRICS countries are now learning and utilizing new energy-efficient methods for creating more sustainable industrial structures. Thus, for the introduction of environment-friendly innovative methods comprising carbon storage system grade modernization and electricity production with the help of renewable resources, several practical implications have been highlighted by researchers [12]. Further, at present all developing and developed countries are trying to implement new green systems to reduce CDE [13]. However, the milestone of reducing CDE will be difficult to achieve without the support of appropriate government rules and regulations.

Thus, by employing new, creative, energy-efficient techniques, the BRICS countries are attempting to lessen their reliance on non-renewable energy supplies as a result of growing populations, economies, and international trade. Their goal is to establish an industrial structure that is sustainable. In light of the moderation of foreign aid, this study attempts to investigate how globalization, TI, and renewable energy usage contribute to ES. To the best of our knowledge, this study will close a significant gap, especially in the BRICS countries' interactions. This study fills an evident gap in understanding the link between selected constructs as the previous studies have mainly focused on the individual aspects or they are incomplete in considering the comprehensive effect of such factors on ES. Moreover, there is a requirement for more in-depth studies that delve into the various effects across different countries due to the varying political and socio-economic contexts. Further, the temporary aspect is important as the short-term aspect may differ from the long-term effect. Identifying crucial barriers and drivers to environmental sustainability is extremely crucial for the stakeholders and policymakers working for a better sustainable future. Therefore, this research plays an important role in filling the existing gap. In this vein, the research objective is to present new insights about the role of these key variables in achieving ES. Through the use of rigorous econometric methodologies, the research findings provide empirical value to the literature and will help policymakers create more appropriate policies for the nations aiming to achieve ES.

Thus, the primary goal of the research is to investigate how TI, globalization, and renewable energy sources relate to both short-and long-term ES.

2 Literature review

The extant research has examined the influence of multiple crucial variables on ES. Nevertheless, a thorough empirical investigation is conspicuously lacking, pertaining to the effects of globalization, technology, and energy consumption on ES when foreign aid is moderated. The review of past studies highlights the existing research gap is presented in the following discussion.

According to the literature, globalization is a critical component, and the link between globalization and CDE has been highlighted by past researchers [14, 15]. Numerous investigations have demonstrated a robust and noteworthy correlation between these two variables [16, 17]. Some found no significant relationship [18] and some reported a negative relationship [19]. Thus, the need for more empirical studies is evident.

Previous scholars have also introduced a novel set of variables essential for understanding ES. Apergis et al. [20] examined the effects on the environmental quality of health sector spending and renewable energy consumption (hereafter called REC). The experiment, which took place in Sub-Saharan Africa, showed that these countries' environments can be improved by using REC sources. Similarly, Balsalobre-Lorente et al. [21] presented governance and innovation as the key variables for exploring environmental quality and claimed that these variables help improve the environment's quality. Further, David and Venkatachalam [22] presented public and private partnership investments as a very important factor in the energy sector for investigating their role in achieving environmental quality. REC is also considered one of the key factors in understanding environmental pollution and is also studied in various past studies. Such as Rahman and Alam [23] did research and reported that energy consumption decreases CDE in 17 Asia Pacific countries. On the other hand, a few researchers reported renewable energy's influence on CDE as insignificant. Consequently, existing findings unambiguously show that additional empirical research is required to comprehend the function of renewable energy in ES. Therefore, it is important to examine whether is a negative relationship between renewable energy sources and ES. Thus, we have proposed:

H1: There exists a negative link between renewable energy sources and environmental sustainability.

Concerning TI, past researchers have identified the importance of this variable in understanding ES. While contradictory findings are available in the existing literature, for instance, the study of Rahman and Alam [23] on 22 industrialized countries revealed that TI had a negative effect on ES. Similarly, another study found that technology innovation increases carbon dioxide emissions in India [24]. A similar discovery was noted in an examination involving 36 OECD countries and five BRICS countries [25]. Additionally, several studies revealed that TI lowers CDE in the BRICS economies, TI leads to a reduction in CDE [26]. In China, from the years 2000–2018, the study by Wang et al. [9] discovered that while TI has a favorable link in the first three quantiles, it starts to have a negative influence in the next six quantiles. Similarly, some researchers reported different results concerning high-income and low-income countries such as Jiang et al. [27] reported that innovation effects sustainability only in the countries which have high income. Samargandi [28] revealed that TI has no discernible effect on the CDE for Saudi Arabia and other 96 countries, therefore, in the presence of such inconclusive results, new empirical studies are needed. Thus, following hypothesis are propose;

H2: There exists a negative relationship between TI and ES.

Concerning globalization, past studies have provided different results. Globalization also helps in understanding environmental quality. Previously, Xia et al. [29] recognized that globalization led to increased CDE in developing and developed countries from 1971 to 2018. Similarly, a positive effect of globalization on CDE was reported by Raza et al. [30] for the top 50 countries. On the other hand, Hung [31] reported a negative relationship between CDE and globalization particularly in the case of Vietnam. Majeed et al. [32] reported that globalization causes the decline in CDE in upper-middle-income and high-income groups but reported an increase in low-middle and low-income economies spanning from 1971 to 2018. Sami Ullah et al. [33] also found a significant correlation between globalization and CO2. In the context of the BRICS countries, Sarwat et al. [34] found little indication that globalization is a relevant variable for CDE. Therefore, additional research on the critical elements, such as globalization and technological innovation, is required to support scholars, researchers, and policymakers in the context of the BRICS economies.

H3: There exists a negative relationship between globalization and ES.

Concerning foreign aid, past studies have already highlighted the significance of foreign aid in the sustainability of any country [35] such as Edwards [36] reported that countries having high dependence on foreign aid are more likely to execute donor-based power expansion projects for obtaining more funding in building infrastructure projects. Similarly, some countries highlighted that foreign aid helps a country in mitigating climate change and its shocks such as the natural disasters which are caused by climate change affected the aid-based project every year by forcing the aid institute to increase the share of humanitarian aid [37]. An excellent governance can help out in the most reliable distribution of the foreign aid received for the betterment of the society and the environment. Thus, we proposed;

H4: The correlation between globalization and ES is significantly moderated by foreign aid.

It is an undeniable fact that technological innovation seems to support sustainable practices but at the same time it has shown drastic effects on the environment. Thus, it is vital to examine this issue in depth. Further, the development of advanced policies may ensure that foreign aid does not deviate from its original purpose while supporting environmental sustainability [7]. Therefore, considering the known significance of foreign aid as a key variable, this study has used it to understand it concerning ES. Given the existing literature, an evident gap is present as studies have not analyzed foreign aid as the moderating variable in understanding the relationship between globalization, TI, REC, and ES. Thus, the following hypotheses is stated;

H5: The correlation between TI and ES is significantly moderated by foreign aid.

The link between renewable energy sources and environmental sustainability is notably impacted by foreign aid as moderator. As foreign aid is used in the role of technology transfer, financial assistance or capacity building in shaping the success of renewable energy initiatives. Further, the countries that are receiving foreign aid may witness more access to clean energy, better infrastructure and improved abilities for sustainable environmental management [35]. On the other hand, the inadequacy of foreign aid may also play as hinderance in the adoption of renewable energy sources. Thus, this interplay between these constructs underscore importance of international support and cooperation for boosting the global advancement towards the sustainable energy practices. Hence, considering the aforementioned literature, the present research has postulated the following hypothesis.

H6: The correlation between renewable energy sources and ES is significantly moderated by foreign aid.

Figure 1 graphically represents the proposed hypotheses, showcasing them in a visually structured format for easier understanding and interpretation.

Fig. 1
figure 1

Conceptual framework

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3 Data research and methodology

3.1 Data source

The previously mentioned research seeks to investigate if foreign aid influences the link between REC, GLB, TI, and CO2. To investigate these connections, the study employed the ARDL method on panel data covering the years 1996 to 2019. The data sets for the selected variables were acquired from the WDI (http://data.worldbank.org) to meet the research objectives.

In this framework, CDE functions are considered the endogenous construct, while REC, GLB, and TI are regarded as exogenous constructs. A thorough description of these variables, including their definitions, symbols, data source, and descriptive analysis, is given in Table 1.

Table 1 Variables and definitions
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We chose Brazil, India, and China for our empirical examination due to data availability. These three countries contribute to approximately 60% of the CDE from the BRICS countries [38]. The study highlights that China’s significant role as a major contributor to CDE, accounting for about 29% of the world's total emissions. In 2021, India also contributed 10.53% to the overall global emissions [39]. Furthermore, these selected BRICS economies are better positioned than the G6 to be major players in global sustainable development during the next 40 years [40]. These emerging countries have demonstrated remarkable economic growth over the last six decades [41].

Moreover, in terms of worldwide investments in the generation of clean energy, China, India, and Brazil—the BRICS nations—held the third, fourth, and fifth spot, respectively. Thus, it becomes intriguing to study empirically how foreign financial capital assistance programs are used in BRICS countries to boost the generation of power from renewable and non-renewable sources. The analysis has been modified to omit Russia because data on foreign energy aid is not available. All variables have been converted to their logarithmic form in order to reduce complexity. Consequently, the following is the estimated model:

$${\text{LnCO}}2,t\, = \,{\text{Ln}}\beta 0\, + \,{\text{Ln}}\beta 1{\text{REC}} \, + \,{\text{Ln}}\beta 2{\text{GLB}}\, + \,{\text{Ln}}\beta 3{\text{TI}}\, + \,\varepsilon$$
(1)

The study suggests that foreign aid could operate as a moderating element in BRICS countries by directly impacting CO2 levels. Chen and Myagmarsuren [42] subsequently created two models to look into the moderating factors' effects. As a first step, a proxy for foreign aid (F. Aid) was incorporated into Eq. 2 to Eq. 5, to estimate the main effect as demonstrated below:

$${\text{LnCO}}2,t\, = \,{\text{Ln}}\beta 0\, + \,{\text{Ln}}\beta 1{\text{REC}}\, + \,{\text{Ln}}\beta 2{\text{GLB}}\, + \,{\text{Ln}}\beta {\text{TI}}\, + \,{\text{Ln}}\beta 4{\text{F}}{\text{.Aid}}\, + \,\varepsilon$$
(2)

Equation (2) was modified by including interaction variables as an exogenous construct in the second model. This led to the creation of a new Eq. (3) to assess the moderating influence of F.Aid.

$${\text{lnC}}o2\left( t \right)\, = \,{\upbeta }0\, + \,{\upbeta }1\,\left( {{\text{lnRECt}}} \right)\, + \,{\upbeta }2\,\left( {{\text{lnGLBt}}} \right)\, + \,{\upbeta }3\,\left( {{\text{lnTIt}}} \right)\, + \,{\upbeta }4\,\left( {{\text{lnREC*lnF}}.{\text{Aidt}}} \right)\, + \,{\upvarepsilon }$$
(3)
$${\text{lnC}}o2\left( t \right)\, = \,{\upbeta }0\, + \,{\upbeta }1\,\left( {{\text{lnRECt}}} \right)\, + \,{\upbeta }2\,\left( {{\text{lnGLBt}}} \right)\, + \,{\upbeta }3\,\left( {{\text{lnTIt}}} \right)\, + \,{\upbeta }4\,\left( {{\text{lnGLB*lnF}}.{\text{Aidt}}} \right)\, + \,{\upvarepsilon }$$
(4)
$${\text{lnC}}o2\left( t \right)\, = \,{\upbeta }0\, + \,{\upbeta }1\,\left( {{\text{lnRECt}}} \right)\, + \,{\upbeta }2\,\left( {{\text{lnGLBt}}} \right)\, + \,{\upbeta }3\,\left( {{\text{lnTIt}}} \right)\, + \,{\upbeta }4\,\left( {{\text{lnTI*lnF}}.{\text{Aidt}}} \right)\, + \,{\upvarepsilon }$$
(5)

According to Balsalobre-Lorente et al. [43], an interaction variable is considered a moderating factor if it shows a significant link with the other constructs. The coefficients must also exhibit statistical significance, thereby confirming the moderating role of F.Aid in our experiment. Because it influences the direct connection between CDE and the regressors (REC, GLB, and TI), the importance of F.Aid as a moderating variable in statistical approaches is crucial.

3.2 Methods

Unit root tests for each variable are necessary to determine the degree of integration to forecast a long-term correlation. The selection of appropriate methodologies for the investigation is dependent on factors like integration degree and stationarity qualities. The conclusions are drawn from studies utilizing the PP and ADF tests, respectively, conducted by Fuller and Hasza [44] and Perron [45], are presented in the results and discussion section. We look at the order in which we mix our study variables to practically investigate our research issues. We apply an advanced econometric methodology, the ARDL bounds-testing approach for co-integration, to examine the asymmetric relationships between the core variables. Pesaran et al. [46] first presented this method, especially for symmetric co-integration. Furthermore, we also use the ARDL bounds-testing methodology.

Various methodologies have been employed in academic investigations to examine enduring connections between variables in the relevant domain. However, given a recent examination of Liu et al. [47] acknowledging its exceptional attributes, this particular technique has been chosen. ARDL models are appropriate when the variables being analyzed have a combination of integration orders, specifically I(0) and I(1), and none of the series have undergone second-level integration. As Pesaran et al. [46] and Satti et al. [48] have shown, serials in the I(0) or I(1) states are the only ones that can be integrated using traditional approaches. A further advantage of the ARDL framework is its capacity to yield accurate outcomes by eliminating serial correlations and endogeneity concerns, even in the presence of endogenous explanations [47]. Moreover, both approaches produce trustworthy results even when the sample size is limited [49].

3.3 The linear ARDL bounds test to the co-integration framework

The estimation of long-term CDE can be derived using Eq. (4). Subsequently, we will construct our model in an error-correction framework, allowing us to evaluate CDE using a unified equation for both short and long-term analysis. Pesaran et al. [46] stated that the ARDL confines testing method, which is utilized to analyze both long-term and short-term linear associations in Eq. (4)

$$\Delta CO2,t\, = \,a_{0} \, + \,\mathop \sum \limits_{n = 1}^{p} {\uppi }\Delta {\text{CO}}2,\,{\text{t}}\, - \,1\, + \,\mathop \sum \limits_{i = 0}^{p} \psi \Delta REC,t - 1 + \mathop \sum \limits_{i = 0}^{p} \psi \Delta GLB,t - 1 + \mathop \sum \limits_{i = 0}^{p} \psi \Delta TI,t - 1 + \mathop \sum \limits_{n = 1}^{p} {\mu i}\Delta {\text{F}}.{\text{Aidt}} - 1 + { }\Delta 1CO2,t - 1 + \Delta 2REC, t - 1 + \Delta 2GLB, t - 1 + \Delta 2TI, t - 1 + \Delta 3{\text{F}}.{\text{Aid}},t - 1CO2 + \varepsilon t$$
(6)

Before calculating lags for both short- and long-term effects, the following factors must be considered: (a) the first difference operator; (b) the intercept parameter; (c) figuring out the ideal number of lags, and (d) evaluating the coefficients for both long- and short-term effects. The ARDL limits approach is used to reject the null hypothesis if the underlying variables do not co-integrate. Pesaran et al. [46] introduced the nonstandard F-test, to assess the hypotheses. The authors provide essential threshold values at several significance levels. We reject the null hypothesis, which claims that there is no co-integration, if the computed test statistics are greater than the upper bound's critical value. On the other hand, if the test statistics are less than the lower critical value, the null hypothesis is accepted as true. If the test statistics fall within the range of critical values delineated by the upper and lower limits, another co-integration test can be conducted. Additionally, ARDL assumes that all factors exert an unequal impact on the dependent variable.

4 Empirical results

The endogenous and exogenous constructs are described in Table 2. REC, F.Aid, GLB, and TI have mean and standard deviation values of 2.777 (2.063), 34.923 (13.098), 1.104e + 09 (1.088e + 09), 53.603 (9.163), and 0.209 (1.211), respectively.

Table 2 Descriptive statistics
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The correlation between variables intricate to this study can be seen in Table 3. CDE, which represents environmental quality, shows a negative correlation with REC, TI, and F.Aid. Moreover, CDE exhibits a high correlation with GLB. The results also reveal a lack of strong correlation between all dependent variables, indicating an absence of multicollinearity, a concern addressed in our empirical analysis.

Table 3 Correlation analysis
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The information shown in Table 4 is derived from cross-sectional dependent testing. The p-values for CO2, REC, GLB, F.AID, and TI are significant at the 1% level. It appears that all variables are cross-sectionally dependent.

Table 4 Cross-sectional dependence results
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The panel unit root test results are shown in Table 5. These results show that either a combination of integration orders exists, or the variable becomes stationary after the initial difference, suggesting the presence of a stationary variable. To examine the long-term link between REC GLB, F.Aid, TI, and environmental sustainability, it is recommended to use a panel ARDL technique, as proposed by Pesaran et al. [50], due to the mixed order of variables.

Table 5 Unit root test results
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As a component of this research, Pedroni [51] proposes panel co-integration tests to explore the potential long-run relationship among variables. The panel cointegration analysis results are displayed in Table 6. The Pedroni test reveals that six out of the eleven variables display cointegration in the long term, suggesting a lasting connection between them. Rejecting the alternative hypothesis that suggests cointegration between the variables is consistent with the null hypothesis that there is no cointegration.

Table 6 Co-integration test results
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Utilizing Eq. (2)–(6), we run the linear model employing either a panel PMG or a DFE. To choose between PMG and DFE as the best estimating method, the Hausman test is employed. We can conclude that the null hypothesis is not rejected based on Table 7's Hausman test results. This implies that when compared to DFE, the PMG estimating method is more effective. Panels A and B show the PMG estimation for Model 1 in Table 7, showing the long-term and short-term coefficients, respectively.

Table 7 Panel ARDL estimation results
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The findings reveal that the long-run estimation of CDE concerning REC, GLB, and F.Aid is negatively significant, positively significant, and negatively significant, respectively. The findings of this study provide evidence in favor of the hypothesis known as the EKC, suggesting long-term negative correlations among REC and CDE in chosen countries. This correlation is significant at 1%, signifying that the adoption of REC leads to a reduction in CDE over time.

According to Panel A of Table 7, the adverse consequences of T.I. have a substantial and persistent influence on CDE. This suggests that extensive utilization of technology might lead to detrimental effects on the environment, ultimately resulting in an escalation of CDE. Activities inside the economic system. Regarding the linear short-run impacts, Panel B of Table 7 verifies that the influence of REC on CDE is negligible. GLB, F.Aid, and TI exhibit positive, negative, and positive significance, respectively, at level 1 about CDE. In the long run, the interaction terms (lnREC*lnF.Aidt, lnGLB*lnF.Aidt, lnTI*lnF.Aidt) show a statistically significant negative effect in panel A.

Furthermore, the results indicate that the short-run estimation of CDE concerning REC, GLB, F.Aid, TI, and the interaction term (CO2*F.Aid) is negatively significant, Positively Significant, and negatively significant, negatively significant, insignificant, and positively significant respectively.

The outcomes of the panel causality test by Dumitrescu and Hurlin (2012) are presented in Table 8. The present research has found (REC → CO2, CO2 → REC, TI → CO2, CO2 → TI, REC → GLB, GLB → REC, GLB → TI, TI → GLB, TI → F.aid, F.aid → TI) variables bidirectional causal links.

Table 8 Granger causality results (BRICS countries)
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5 Discussion

In this research, the impact of globalization, TI, and REC is examined on the ES under the moderation of foreign aid. This study has used several robust econometric methods on the panel data from 1996 to 2019 on BRICS countries. Initially, a cross-sectional dependence test was applied after which unit root tests were applied and then linear ARDL was applied to check the asymmetric relationship among the selected constructs. The results have revealed that the findings support the EKC hypothesis as the REC variable is negative with the CDE at a 1% level of significance. This result for H1, illustrates the acceptance of our first hypothesis demonstrating that CDE decreases with the increase in renewable energy and this result also finds support from prior research by Chen et al. [52] and Radmehr et al. [53]. Even while renewable energy sources are frequently promoted as environmentally acceptable alternatives, the operationalization and application of these sources may unintentionally exacerbate ecological problems. Large-scale renewable energy infrastructure, such solar farms or hydropower dams, can alter land usage and disturb natural habitats, which may have an effect on the biodiversity of the area. Environmental externalities may also result from the manufacture and disposal of parts used in some renewable technologies. These factors highlight how crucial it is to evaluate the environmental sustainability of RES from a comprehensive angle. Thus, this study fills an evident gap, further it is imperative to acknowledge that the aggregate effect may differ among diverse renewable energy sources and technologies, hence requiring additional investigation.

Similarly, considering the result for H2, a negative correlation is observed in the long-run between TI and CDE, which demonstrates that 1% increase in TI, CDE decreases. This finding is also supported by past studies by Wang et al. [54] and Sana Ullah et al. [55]. While there is no denying that technical developments have accelerated social progress and economic expansion, there are unavoidable environmental consequences. Quick innovation frequently results in the production of goods with shorter lifespans, which adds to resource depletion and electronic waste. Furthermore, hazardous contaminants may be released during several industrial operations connected to cutting-edge technologies, worsening environmental deterioration. Increased energy consumption can also be a sign of the negative relationship between technical innovation and environmental sustainability, especially when it comes to the manufacturing and use of modern technologies. It is essential to acknowledge and comprehend these negative effects in order to direct innovation in the direction of more sustainable avenues. In order to promote a more peaceful cohabitation between advances in technology and environmental well-being, overcoming this negative relationship requires a reevaluation of present technological paradigms and a determined effort to prioritize eco-friendly alternatives.

Similarly, regarding H3, we found that globalization's effect on the CDE is negative and it is aligned with past studies by Haseeb et al. [19] and Chien et al. [56]. This result highlights the necessity of reevaluating current economic models and international policies is highlighted by the unfavorable relationship found between environmental sustainability and globalization. The finding acknowledges that the pursuit of economic prosperity should not come at the expense of the health of the earth and asks for the creation of methods that balance the advantages of international collaboration with a dedication to ecological preservation. A thorough grasp of the complex relationships between economic globalization and environmental well-being is necessary to create a more just and sustainable globalized future.

Regarding H4, the findings reveal a positive moderation of foreign aid on the correlation of globalization and TI with ES. Thus, we have found that in the context of globalization, foreign aid—whether in the form of cash support, technology transfer, or capacity building—can enable countries to embrace and put into practice ecologically sustainable policies. On the other hand, a lack or insufficiency of foreign aid could make globalization-related environmental problems worse by making it more difficult for countries to control the environmental effects of growing commerce and production or to invest in eco-friendly technologies. This complex interplay highlights the need for a fair and balanced strategy to address environmental sustainability issues in the context of globalization, emphasizing the crucial role that international cooperation and assistance play in determining the environmental outcomes of a globalized world.

A significant and negative moderation of foreign aid is found between REC and ES. This shows that the recipient nations of foreign aid may have access to sustainable practices, green technologies, and experience that will support their attempts to slow down environmental damage. On the other hand, the lack of sufficient foreign help could hinder the spread of environmentally beneficial technology, especially in poor countries with limited resources. This complex link highlights how crucial international cooperation and support are to promoting a worldwide shift to ecologically sustainable technologies. The good effects of technical innovation can be amplified by effective foreign assistance initiatives, which match them with wider environmental aims and promote a more inclusive and sustainable global development paradigm.

Regarding H6, our accepted hypothesis claimed that foreign aid substantially moderates the relationship between environmental sustainability and renewable energy sources offers a more nuanced understanding of clean energy adoption and its effects on the environment. Even though renewable energy sources are frequently praised as essential to environmental sustainability, foreign aid may have an impact on how well they integrate and function. Initiatives aimed at increasing capacity, transferring technology, and providing financial support will enable countries to get over obstacles and quickly adopt renewable energy technologies, which will increase their beneficial effects on the environment. Thus, we found that the execution of sustainable energy projects can be aided by foreign aid, guaranteeing that communities have the tools and information required for a smooth transition. However, the lack of or inadequate level of international assistance. As this research is one of its kind, this finding adds value to the existing literature, opening avenues for future studies.

6 Conclusion

In this research, an effort has been made to identify the role of renewable energy sources, globalization, and TI on the ES under the moderating role of foreign aid in the period from 1996 to 2019 on BRICS economies. In this research, ARDL methodology is applied to test the proposed hypotheses and the decision to accept or reject hypotheses based on p < 0.05 level of significance. The study findings demonstrate a negative and significant effect of RES, TI, and globalization on ES. In addition, the impact of RES, TI, and globalization on ES is significantly moderated by foreign aid. The investigation of how foreign aid shapes the nexus of RES, TI, globalization, and SE in BRICS countries underscores the multifaceted and energetic nature of these interactions. The discoveries highlight the essential part of foreign aid in affecting the appropriation and dissemination of renewable energy technologies, with suggestions for both policy formulation and administrative decision-making. As BRICS countries proceed to explore the complexities of feasible improvement, the study emphasizes the need for custom-made and context-specific approaches in planning foreign aid programs. Insights into the socio-economic and social variables that shape the acknowledgment of renewable energy advances, as well as the long-term impacts of aid activities, give an establishment for more compelling and maintainable interventions. Additionally, the research sheds light on the significance of cultivating collaboration between open and private segments to maximize the positive effect of foreign aid on the interest of sustainable environments in BRICS nations. As these countries play a progressively powerful part in the worldwide economy, understanding how foreign aid can be deliberately utilized to progress renewable energy, innovation, and sustainable development objectives gets to be basic for forming a strong and ecologically conscious future.

This research has also provided some sheds light on crucial points, including a new in-depth insight for designing better policies for economic growth. Further, this research also highlights the significance of environment-friendly technologically innovative methods as the innovation without eco-friendly methods will increase CDE. Therefore, this study emphasizes that the government and policymakers should design new policies based on green technology-based innovation systems for the betterment of society and to save the earth from climate change adverse effects. This study also highlights the significance of globalization concerning CDE and recommends that countries in the BRICS region utilize more useful eco-friendly elements in the form of exchanging green innovation systems and knowledge sharing for improving management policies. The study also recommends that the government take appropriate policy initiatives to take maximum benefits from globalization and keep the country free from environmental pollution. This study also highlights that energy resources used in renewable form can help any country maintain ES. Thus, renewable energy sources should be available at affordable rates to the public so that people can maintain their businesses with the help of renewable energy sources. This will ultimately help in achieving ES.

6.1 Theoretical implications

This study plays a crucial role in understanding the effect of foreign aid on renewable energy activities inside these rising economies is significant for refining existing theoretical systems related to feasible improvement. It gives experiences into the ways in which budgetary help, innovation exchange, and collaborative endeavors shape the selection and dissemination of renewable innovations. Besides, this examination contributes to the hypothetical talk on the part of innovation within the globalization of maintainable hones. By analyzing how foreign aid impacts the integration of renewable vitality in BRICS countries, researchers can extend their understanding of the complex connections between financial globalization and natural maintainability. Theoretical implications too expand to the broader talk on the part of international participation in cultivating naturally conscious improvement pathways. This investigate can illuminate hypothetical models that capture the nuanced flow of foreign aid interactions and their long-term suggestions for maintainable situations, subsequently upgrading our hypothetical understanding of the complex associations between foreign aid, renewable vitality, innovation, globalization, and natural maintainability within the setting of BRICS countries.

6.2 Managerial implications

Firstly, it highlights the require for strategic alignment of foreign aid programs with the particular renewable energy needs and technological capacities of BRICS countries. Policymakers can use experiences from this investigate to plan help activities that address the special challenges and openings inside each nation, advancing a custom-made and successful approach to feasible advancement. Also, business leaders working within the renewable energy division can gather important experiences into potential showcase openings and challenges inside the BRICS setting. Understanding how foreign aid impacts technology transfer and globalization within the renewable energy division can advise companies' vital choices, empowering them to explore worldwide markets and organizations more successfully. Besides, this investigate underscores the significance of fostering collaboration between open and private segments, as well as universal educate, to maximize the positive affect of foreign aid on economic improvement activities in BRICS countries. Eventually, the administrative suggestions expand to the need of making a conducive environment for the appropriation of renewable advances, guaranteeing that outside aid initiatives contribute to enduring and impactful changes within the interest of economical situations over BRICS nations.

6.3 Limitations and future directions

This research has also some limitations as in this study some other key factors like public awareness level, deforestation rate, and effect of technology development are not included.

Further, a more in-depth examination into the particular components through which foreign aid encourages or ruins the exchange of renewable energy technology inside the BRICS setting would give important experiences. Analyzing the part of regulation systems, arrangement coherence, and the viability of capacity-building activities in advancing economic advancement objectives can be an improving center.

Besides, future examinations might dig into the socio-economic and social variables affecting the selection of renewable energy in BRICS countries. Understanding how nearby settings shape the effectiveness of foreign aid programs and the acknowledgment of sustainable technologies would contribute to more context-specific and culturally sensitive interventions.

In summary, future studies may work on developing our understanding of the complex link between foreign aid, renewable energy, technology, globalization, and sustainable environments in BRICS countries, with a focus on specific components, socio-cultural impacts, long-term impacts, and the part of public–private associations. Lastly, this study has used data from BRICS economies, so there is gap for replicating the model for other countries. Moreover, this is a panel data study, future researchers may use the same model on cross-sectional data.