In the context of sustainable development, this study investigates the intricate dynamics among good governance, renewable energy investment, and green finance in BRICS nations. The aim of the study is to assess how green finance and governance effectiveness moderate the impact of renewable energy investment on CO₂ emissions. Utilizing the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) model, a meticulous analysis spanning two decades was conducted to unravel the relationships among key variables and CO₂ emissions. The findings underscore a nuanced interplay where renewable energy investments, synergized with robust governance and strategic green finance, significantly mitigate CO₂ emissions, contributing to sustainable economic development. However, the study reveals non-linear relationships, highlighting the necessity for optimal allocation and strategic planning to maximize environmental benefits. In the short-run, a government effectiveness policy threshold that should be attained in order for renewable energy investment to reduce CO₂ emissions is provided. In the long-run, the negative responsiveness of CO₂ emissions to renewable energy investment is further consolidated by green finance. Moreover, enhancing renewable energy investment in the long run is positive for environmental sustainability. It follows that policy makers should tailor policies aimed at enhancing renewable energy investment in the long-run as well as complementing renewable energy investment with green finance in the long-run in order to ensure environmental sustainability by means of reducing CO₂ emissions. Policymakers in BRICS nations are urged to strengthen governance structures, promote renewable energy investments, leverage green finance, foster public-private partnerships, adopt a holistic approach, and address non-linear effects to accelerate the transition to a low-carbon economy.

This paper examines the impact of institutional pressure (IP), top management support (TMS), green supply chain management practices (GSCM), and supply chain competitive advantage (SCCA) on corporate environmental performance (EP). We also analyze the mediation effect of GSCM on the interplay between TMS and EP. Additionally, the paper also provides an analysis of the moderating role of SCCA between IP and EP. To attain the objective of this research, we assembled data from 710 business entities within the Shaanxi province of China utilizing a survey design approach. The structural equation model (SEM) was applied to test and assess the hypothetical outline. The study outcomes empirically show that TMS, GSCM, and SCCA positively and significantly impact EP. Interestingly, our study found an insignificant association between IP and EP. The study's results also demonstrate that IP directly relates to top management support. Moreover, the study's empirical findings reveal that GSCM positively mediates IP and EP. The study findings show that SCCA shapes IP and EP's connection. Accordingly, the practical implications of our study's findings suggest that business managers, investors, and government agencies must know the importance of adopting sustainable practices within the supply chain. Business managers must take action to integrate environmental criteria into supplier selection, evaluate suppliers' EP, and collaborate with eco‐friendly suppliers. Hence, government agencies, stakeholders, and business managers can use this information to shape regulations and policies that encourage businesses to adopt sustainable supply chain practices. Offering incentives such as tax benefits or grants for sustainability initiatives can also promote adoption. The study recommends that a business culture that targets improving EP due to IP and top management support is essential in achieving GSCM practices, thereby promising competitive advantage.