To mitigate environmental challenges and fulfill the Sustainable Development Goals, a broader and holistic ecological assessment is required. As a result, this research utilizes the load capacity factor, which is a distinct proxy of environmental deterioration that offers a detailed environmental evaluation measurement by comparing biocapacity and ecological footprint simultaneously. Moreover, the load capacity factor provides the combined attributes of the demand and supply-side of environmental quality. Therefore, this research scrutinized the effect of financial globalization, urbanization, economic growth, and renewable and nonrenewable energy usage on load capacity factor for the period stretching between 1970 and 2017 in Brazil. The bounds testing procedure for cointegration in combination with the critical approximation p-values of Kripfganz and Schneider (2018) disclosed a cointegrating association between load capacity and its regressors. The outcome of the ARDL method uncovered that economic growth, non-renewable and renewable energy reduce the load capacity factor, whereas urbanization has no impact on load capacity factor in Brazil. However, financial globalization has a positive effect on load capacity factor in Brazil. Finally, the study uses the spectral causality test to assess the causality interaction between the observed parameters. The policymakers should take advantage of the opportunity by developing policies that encourage the openness of the economy to foreign investors.

The present study aims to discover the impact of political risk, globalization and technological innovation on the ecological footprint in the BRICS economies by employing a dataset covering the period between 1990 and 2017 and incorporating non-renewable energy utilization and economic growth as other regressors through the utilization of panel quantile regression. The outcomes established that economic growth, non-renewable energy usage, political risk and technological innovation increase ecological footprint. Conversely, globalization significantly decreases the ecological footprint. The panel ordinary least squares approach serves as a sensitivity test for the robustness of the analysis. Furthermore, the Dumitrescu-Hurlin panel causality test confirmed that a bidirectional causal interaction exists between ecological footprint and the regressors of technological innovation, globalization, non-renewable energy and economic growth, while a one-way causal interconnection runs from ecological footprint to political risk. Notably, the general policy suggestion indicates the need for policymakers to intensively coordinate efforts to combat the serious environmental deterioration in the BRICS economies.