Decarbonization, Opportunities and Dilemma for Developing Countries

Abstract

Purpose: The purpose of this paper is to analyze the dilemma of third world countries in the decarbonization policy drive by drawing a comparison of power generated by third world countries and quantity of CO2 emissions against that of first world nations to ascertain third world nations' CO2 emissions. Materials and Methods: This is achieved by conducting an extensive literature review, conducting questionnaires, and conversing with industry experts aimed at identifying and comparing sources of power generation and consumption by third-world countries and developed countries. Analysis of collected data is conducted by statistical methods to arrive at conclusive deductions regarding the implications and opportunities available for decarbonization.   Findings: The study revealed that fossil fuel still constitutes about 64% of energy generation and over 80% of the carbon dioxide (CO2) generated by human activity (around 35 billion tonnes a year) comes from burning fossil fuel.  This paper proposes unique practical solutions that would ensure a smooth transition during decarbonization like unbundling the national grid and power infrastructure to create smaller and more efficient microgrids (energy efficiency),  improving the energy efficiency of existing power infrastructure, proper short, midterm and long-term Government policies on energy, investments in renewable technologies like solar,  wind and Nuclear, acquisition of energy storage systems, transparency to curb corruption), and more investment in homegrown technological drive. Implications to Theory, Practice and Policy: Conclusively, policymakers are encouraged to take necessary steps to ensure that decarbonization can be achieved without significant challenges on infrastructural growth and development.