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Assessing the Challenges to Leverage Carbon Markets for Renewable Energy in Developing Countries: A Multi-Criteria Decision-Making Approach

Year: 2024

Type: article

Abstract: Harnessing carbon markets for renewable energy involves evaluating various factors carefully. To address this, a multi-criteria approach is employed for its flexibility and supplementary tools. This study assesses five challenges of leveraging carbon markets for renewable energy in Africa. The stepwise weight assessment ratio analysis (SWARA) method is applied in an interval-valued spherical fuzzy environment (IVSF) to facilitate group decision-making. The study emphasizes institutional capacity shortfalls and regulatory framework gaps as the most significant obstacles to harnessing carbon markets for renewable energy. The research findings guide policymakers in formulating effective strategies to address these challenges.

Source: Spectrum of Engineering and Management Sciences

DOI: 10.31181/sems21202412s

Authors: Su Qian, Yanjun Qiu, Mouhamed Bayane Bouraima, Ibrahim Badi, Tafuteni Nicholaus Chusi

Institutions: Sichuan College of Architectural Technology, Southwest Jiaotong University, Libyan Academy, Dongbei University of Finance and Economics

Language: English

Topic: Multi-Criteria Decision Making

Subfield: Management Science and Operations Research

Field: Decision Sciences

Domain: Social Sciences

SDGs: Climate action, Affordable and clean energy, Industry, innovation and infrastructure

Open Access status: hybrid

OpenAlex ID: W4402915030

FWCI: 4.105

Cites:

Cited by: 13

Related to: 10