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This paper empirically examined relevant data on BRICS CO2 emissions, financial development, and economic growth in the past 40 years, and analyzed the correlation between them. Using the cointegration test, it found that there is a clear correlation between the variables in China and South Africa, which show that there is a two-way relationship between CO2 emissions, financial development, and economic growth in both countries. Using the quantile regression method in the analysis, the results demonstrated that at the 0.6th quartile, South Africa's financial development had a negative impact on CO2 emissions, while Brazil's CO2 emissions had a negative impact on financial development. Economic growth was subsequently added as a control variable, and the quantile-on-quantile regression method was used to test the correlation between the financial development of the BRICS countries and their CO2 emissions. Finally, based on empirical conclusions, this paper proposed that BRICS countries should focus on sustainable economic development; when government departments formulate emission-reduction policies, they must reasonably consider the relationship between financial development and emission-reduction policies. [ABSTRACT FROM AUTHOR]

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For decades, the most used mainstream model for economic growth and development was that used and promoted by the global north. However, this model has not seen the same results in the developing global south as it has in the developed global north. BRICS emerged as an organisation that presented an alternative means to the global north's approach to economic growth and development. This article examines whether BRICS membership has fostered the economic growth and development of South Africa and Brazil. This article examines the five years before and after Brazil and South Africa joined BRICS. Key findings of the study are that economic growth and development gains have been minimal. The study concludes that Brazil and South Africa have achieved political gains from their BRICS membership, which is considered to offset the absence of tangible economic growth and development gains. [ABSTRACT FROM AUTHOR]