A Comprehensive Framework for Assessing the Socioeconomic and Environmental Impacts of Renewable Energy Infrastructure in Emerging Markets

• Author(s): Olakojo Yusuff Ogunsola ; Yetunde Adenike Adebayo ; Ikiomoworio Nicholas Dienagha ; Nwakamma Ninduwezuor-Ehiobu ; Zamathula Sikhakhane Nwokediegwu
• Paper ID: 1703427
• Page: 272-280
• Published Date: 31-05-2022
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 5 Issue 11 May-2022

Abstract

This paper presents a comprehensive framework for assessing renewable energy infrastructure's socioeconomic and environmental impacts in emerging markets. As the adoption of renewable energy becomes increasingly critical for sustainable development, it is essential to evaluate both the positive and negative consequences comprehensively. The paper begins with an exploration of the socioeconomic benefits, including job creation, income generation, and improved quality of life, while also addressing challenges such as economic disparities and inclusive growth. Environmental impacts are examined, highlighting reductions in greenhouse gas emissions, conservation of natural resources, and potential risks like habitat disruption and resource depletion. Mitigation strategies to minimize negative impacts are also discussed. The framework development section identifies key indicators, describes assessment tools, and emphasizes the importance of stakeholder involvement, ensuring an inclusive and transparent assessment process. The paper concludes with actionable recommendations for policymakers, investors, and other stakeholders to foster sustainable and inclusive renewable energy development. This framework aims to guide effective decision-making, enhance positive outcomes, and mitigate potential risks, ultimately contributing to sustainable development and climate change mitigation efforts in emerging markets.

Keywords

Renewable Energy, Socioeconomic Impacts, Environmental Assessment, Emerging Markets, Sustainable Development, Stakeholder Involvement

Citations

IRE Journals:
Olakojo Yusuff Ogunsola , Yetunde Adenike Adebayo , Ikiomoworio Nicholas Dienagha , Nwakamma Ninduwezuor-Ehiobu , Zamathula Sikhakhane Nwokediegwu "A Comprehensive Framework for Assessing the Socioeconomic and Environmental Impacts of Renewable Energy Infrastructure in Emerging Markets" Iconic Research And Engineering Journals Volume 5 Issue 11 2022 Page 272-280

IEEE:
Olakojo Yusuff Ogunsola , Yetunde Adenike Adebayo , Ikiomoworio Nicholas Dienagha , Nwakamma Ninduwezuor-Ehiobu , Zamathula Sikhakhane Nwokediegwu "A Comprehensive Framework for Assessing the Socioeconomic and Environmental Impacts of Renewable Energy Infrastructure in Emerging Markets" Iconic Research And Engineering Journals, 5(11)