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

Su Qian; Yanjun Qiu; Mouhamed Bayane Bouraima; Ibrahim Badi; Tafuteni Nicholaus Chusi

doi:10.31181/sems21202412s

Authors

Su Qian Sichuan College of Architectural Technology, Deyang Campus: No.4, West Jialingjiang Road, Deyang, Sichuan 618000, China Author https://orcid.org/0000-0001-8382-5398
Yanjun Qiu School of Civil Engineering, Southwest Jiaotong University, Chengdu, Sichuan 610031, P.R. China Author https://orcid.org/0009-0006-5524-5429
Mouhamed Bayane Bouraima Sichuan College of Architectural Technology, Deyang Campus: No.4, West Jialingjiang Road, Deyang, Sichuan 618000, China Author https://orcid.org/0000-0002-5801-884X
Ibrahim Badi Libyan Academy, Mechanical Engineering Department, Libya Author https://orcid.org/0000-0002-1193-1578
Tafuteni Nicholaus Chusi Center for Industrial and Business Organization, Dongbei University of Finance and Economics, Dalian, 116025 Liaoning Province, China Author https://orcid.org/0000-0002-0125-3611

DOI:

https://doi.org/10.31181/sems21202412s

Keywords:

Carbon Markets, Renewable Energy, Challenge, Interval-Valued Spherical Fuzzy Sets, Stepwise Weight Assessment Ratio Analysis, Developing Countries

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.

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