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The Potential Impact of Carbon Market on Climate Change Mitigation and the Advancement of Sustainable Development Goals in Anambra

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  • Ogbo O.G.

    (Nnamdi Azikiwe University, Awka)

  • Onuoha D.C.

    (Nnamdi Azikiwe University, Awka)

  • Amaechi M

    (Nnamdi Azikiwe University, Awka)

Abstract

This study evaluates the potential impact of carbon markets on climate change mitigation and sustainable development in Nigeria, focusing on stakeholder perspectives in Anambra State. Carbon markets have been recognized as a tool for reducing greenhouse gas emissions and fostering economic growth, but their implementation in Nigeria faces challenges related to regulatory enforcement, institutional readiness, and market stability. Using a mixed-methods approach, stakeholder perceptions were analyzed through descriptive statistics and a one-sample t-test. Findings indicate strong confidence in the effectiveness of carbon markets for climate change mitigation, with a mean score of 3.88, while their role in promoting sustainable development received a higher endorsement, with a mean score of 4.05. The t-test confirmed that both mean values significantly exceeded the neutral midpoint of 3 (p

Suggested Citation

  • Ogbo O.G. & Onuoha D.C. & Amaechi M, 2025. "The Potential Impact of Carbon Market on Climate Change Mitigation and the Advancement of Sustainable Development Goals in Anambra," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(3s), pages 2185-2192, March.
    • Handle: RePEc:bcp:journl:v:9:y:2025:i:3s:p:2185-2192
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    References listed on IDEAS

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    1. Niklas Döbbeling-Hildebrandt & Klaas Miersch & Tarun M. Khanna & Marion Bachelet & Stephan B. Bruns & Max Callaghan & Ottmar Edenhofer & Christian Flachsland & Piers M. Forster & Matthias Kalkuhl & Ni, 2024. "Systematic review and meta-analysis of ex-post evaluations on the effectiveness of carbon pricing," Nature Communications, Nature, vol. 15(1), pages 1-12, December.
    2. Richard G. Newell & William A. Pizer & Daniel Raimi, 2013. "Carbon Markets 15 Years after Kyoto: Lessons Learned, New Challenges," Journal of Economic Perspectives, American Economic Association, vol. 27(1), pages 123-146, Winter.
    3. Rawshan Ara Begum & Asif Raihan & Mohd Nizam Mohd Said, 2020. "Dynamic Impacts of Economic Growth and Forested Area on Carbon Dioxide Emissions in Malaysia," Sustainability, MDPI, vol. 12(22), pages 1-15, November.
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