How Realistic Is Low Carbon Development For Developing Countries That Is Development Without Significant Exploitation of Fossil Fuels?

Oluwafemi  Royal Aliu

doi:10.31181/sa31202536

Authors

Oluwafemi Royal Aliu Department of International, School of Agriculture, Policy and Development, University of Reading, UK. Author https://orcid.org/0000-0003-4675-0803

DOI:

https://doi.org/10.31181/sa31202536

Keywords:

Exploitation, Fossil fuels, Low carbon development, Developing countries

Abstract

The UK Energy White Paper and the EU's initiatives for Low-Carbon Development (LCD) underscore the significance of sustainable economic and political advancement for societal, economic, and environmental progress. The research investigates the application LCD strategies in lesser-developed nations to facilitate a transition to a low-carbon economy, concentrating on poverty alleviation and economic advancement as a countermeasure to the substantial Greenhouse Gas (GHG) emissions linked to developed countries' reliance on fossil fuels. The UK's path of industrial growth has resulted in elevated GHG emissions, leading to the formulation of energy policies aimed at fostering a low-carbon economy. Nations such as France, Japan, and Canada have adopted carbon reduction initiatives, whereas developing countries like Nigeria, China, and Algeria are engaged in discussions about transitioning to a low-carbon economy. The feasibility of LCD in developing countries largely hinges on the successful adoption and transfer of low-carbon technologies from developed to developing regions. Policy frameworks ought to prioritize the electricity sector by minimizing carbon intensity and diversifying into low-carbon alternatives such as nuclear and renewable energy sources. Drawing lessons from Russia's achievements can inform policy design, ensuring that policies are tailored to the unique circumstances of different regions and applicable low-carbon technologies. Access to financing represents the most significant obstacle to LCD, as investors are crucial in driving the shift towards renewable energy solutions. This research emphasizes the potential for successful LCD in developing nations, provided there is appropriate financing, a strong policy framework, and investment in technology.

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