Role of economic policies, renewable energy consumption, and natural resources to limit carbon emissions in top five polluted economies

Top carbon-emitting countries are rich in natural resources (NRR). NRR are found to be indifferent to the economic development of many resource-rich countries. Economic policies are important to handle NRR. Uncertain economic policies and natural resource rents may affect the environment of an economy. Estimating the empirical impact of NRR and uncertain economic policies (EPU) on carbon emissions in the top five polluted economies could be an interesting setting. Therefore, this article is an effort to examine the impact of NRR, EPU, and renewable energy consumption (REC) on total and consumption-based carbon emissions (CBE). With the latest data available, “cross-sectionally augmented autoregressive distributed lag and augmented mean group” estimations are used to quantify results. The findings show that EPU harm the environment. Though, RE and NRR are substantially reducing the total and CBE in the top five polluted economies. The findings have effective policy implications for the sustainable environment.