Abstract
This paper analyzes the influence of financial development on the implementation of renewable energy in BRICS+ nations, addressing both short-term and long-term implications. The empirical research utilizes Autoregressive Distributed Lag (ARDL) and Nonlinear ARDL models, analyzing data from 1992 to 2021 for ten BRICS+ nations, while accounting for essential economic variables such as Foreign Direct Investment and inflation rate. The results demonstrate that financial institutions and markets influence renewable energy adoption, with different significance in the short and long term. The empirical findings highlight the importance of comprehending how financial development can aid countries in transitioning to cleaner energy, especially in emerging economies, and offer critical insights for policymakers and investors in BRICS+ nations on leveraging financial development to attain net-zero emissions by 2050.