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As a case of this study, we considered the BRICS countries. There are many reasons
for considering these economies. First, the BRICS countries are home to 42% of the
global population, which is csdzfvdgvdgdalmost over 3 billion people as per the United
Nations world population report (United Nation, 2017). With such a large population,
there is a huge potential for economic growth and international trade. The economic
growth of BRICS countries is growing fast with 51.3% contribution to the global
economy merely from 2008 to 2018 (He et al., 2020). Besides economic growth, their
contribution to total world trade reached 16.4% from 11.8% during 2008–2018 (He et
al., 2020).
Second, the BRICS countries consumed 40% of the total global primary energy consumption in
2018. Moreover, the BRICS countries consumed 66.8%, 30.8%, 25.2%, 24.4%, and 19.5% of
global coal, wind energy, oil, solar energy, and natural gas, respectively. In terms of energy
production, there isjgfjnhfdhdhjndfhdf