A roadmap to 2050 for Nepal and Singapore with comparative energy market study for net-zero greenhouse gas emissions

Abstract

The fundamental reason developed countries can cater to their lifestyle demands is their energy security, employment creation, and containment of greenhouse gases. Concerning the rising global temperatures due to the increasing levels of ozone depletion, sustainable energy adoption into mainstream energy generation has become predominantly accepted. Various governments and agencies have promoted renewable energy sources with desirable policies and financial investments in these projects. However, the efforts have not met the requirements to keep the temperatures below 1.5 degrees or a maximum of 2 degrees. The COVID-19 pandemic has caused a major decline in Nepal’s economy, which is primarily dependent on agriculture and remittances. Around 2% GDP growth is expected in the nation, which will affect approximately 18% of the populace living in poverty. As a result, Nepal’s conditional Nationally Determined Contributions (NDC) reflect emissions levels between 69 and 76 MtCO₂e, with a reduction goal of 1.9 to 5.6 MtCO₂e by 2030. Nepal’s total carbon dioxide emissions will rise in 2021 despite the country’s meager 0.027% contribution to world emissions. This would lead to the implementation of the Green, Resilient and Inclusive Development (GRID) approach, which aims to promote sustainable green growth and resilience. Singapore’s mitigation efforts and energy generation prospects in different sectors, such as transportation, industry, building, biogas, wind, nuclear, solar, and waste to energy. This paper will be a comparative study of the energy markets of the Federal Democratic Republic of Nepal & the Republic of Singapore. It will also reveal the relationship between policy scenarios and greenhouse gas emissions. It will enlist the current challenges of the growth of renewable energy markets and explore prospective economically viable energy production methods. In conclusion, it will also predict the energy mix for the agenda years of 2035 and 2050, thereby creating an economically reliable roadmap for energy generation for both countries to have a sustainable future by studying the varying socio-economic populations in this study.