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International Journal of Scientific and Engineering Research
ISSN Online 2229-5518
ISSN Print: 2229-5518 2    
Website: http://www.ijser.org
scirp IJSER >> Volume 3,Issue 2,February 2012
Carbon CCS Financing in the Developing Countries: Prospects, Problems And Possible Solutions
Full Text(PDF, )  PP.281-285  
Author(s)
Nafi'u Tijjani ,Kaisan M. Usman, Yusuf B. Habib
KEYWORDS
: Carbon Capture, Developing Countries, Climate Mitigation, Project Financing, Carbon finance.
ABSTRACT
Developing countries comprise of mostly Asian, African, and Latin American countries that make up the overwhelming majority of the world's population, containing more than two-third of the population. These countries constitute the majority of annex2 countries as defined in Kyoto Protocol; they have little or no emission restrictions. Carbon Capture and Storage (CCS) is one of the most recent and important climate mitigation technologies, it allows the capture, transportation and storage of the CO2 (The major green house gas) from the mixture of flue gases emitted from coal fired plants and from oil and gas industries. Most of the Industrialized Countries however, constitute the annex1 countries in Kyoto Protocol and hence, are faced with emission restrictions. Recent reports have shown that the developing countries have more potential to enjoy clean development mechanism (CDM) projects as stipulated by article 12 of the Kyoto Protocol, but it is obvious that most of these countries have few or no CCS projects, especially at this time when CCS is given serious consideration under the Protocol. Many CCS and renewable energy financing programs are obtainable from Carbon Sequestration Leadership Forum (CSLF) and World Bank Group such as; International Bank for Reconstructions and Development (IBDR), International Finance Corporation (IFC) and Multilateral Insurance Guarantee Agencies (MIGA). Unfortunately, most of the funds are enjoyed by the developed countries. Only a few of the developing countries access the fund and at low percentage compared to the former. Therefore, this article reviews the CCS financing in the Developing Countries, its prospects, problems and possible solutions.
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