Driving Carbon Capture in Parallel with Industrialization in Developing Countries: Opportunities, Challenges and Strategies

Abstract

Purpose: This paper reviews the potential of carbon capture and storage (CCS) technologies to help developing nations decrease carbon emissions as they undergo the industrialization required for development. It also identifies the related opportunities, challenges, and strategies for effectively integrating CCS during this process by drawing lessons from the experiences of developed and developing countries that have achieved success. Materials and Methods: The study employs a thorough literature review, statistical analysis of data, and examination of real-world case studies. Comparing Norway, South Korea, the United States, China, and India's experiences, it focuses on successful models and key factors influencing CCS adoption in different regions, offering insights for other developing nations. Findings: The review and analysis show that developed countries have made considerable advancements in utilizing CCS technologies to lower emissions, whereas developing nations encounter significant obstacles due to financial constraints, insufficient expertise, and inadequate regulations. Nevertheless, underdeveloped nations can employ CCS technologies for enduring economic expansion with appropriate global cooperation, financial assistance, and technology sharing. Finally, it pinpoints effective tactics and models developing nations can use to improve their CCS capabilities. Implications to Theory, Practice and Policy: This research has implications for theory, practice, and policy by enhancing understanding of how CCS can help promote sustainable industrial growth in developing nations and providing a template for integrating CCS into national climate plans. It also mentions the importance of detailed and effective regulatory frameworks, financial incentives, and global cooperation required in addressing CCS challenges in developing countries.