The Application of Clean Development Mechanism as a Driver for Renewable Energy Projects in Malaysia

Abstract:

The issue of climate change has long been attributed to the extensive amount of carbon emission through the utilization of fossil fuel as our primary energy source. As this source reaches depletion, the search for alternative and renewable energy options has received much attention on a global scale. The two-pronged approach of renewable energy projects reducing global greenhouse gas emissions through substitution of fossil fuels and prolonging the lifespan of non-renewable energyis deemed as the key to our endeavour for sustainable development. The Clean Development Mechanism under the Kyoto Protocol can act as a tool to provide the financial and technological thrust necessary for effective implementation of renewable energy projects in developing nations. Malaysia, in all its potential, currently utilizes less than 1% of its potential renewable energy capacity despite its recent political and economical advancements in this respect. This paper will assess the untapped potential of renewable energy and status of the CDM in Malaysia, and discuss how the CDM can act as a driver for renewable energy projects in developing nations including Malaysia.

• Periodical: Advanced Materials Research (Volumes 726-731)
• Pages: 3189-3199
• DOI: https://doi.org/10.4028/www.scientific.net/AMR.726-731.3189
• Online since: August 2013
• Authors: Sumiani Yusoff, T.S. Loh
• Keywords: Clean Development Mechanism (CDM), Renewable Energy, Sustainable Development

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