Assessing Policy Efficiency in Carbon Sequestration Technologies in Southeast Asia's Manufacturing Sector

Maria Cristina ()

European Journal of Technology, 2024, vol. 8, issue 5, 69 - 81

Abstract: Purpose: The paper's goal is to investigate assessing policy efficiency in carbon sequestration technologies in Southeast Asia's manufacturing sector Materials and methods: To give a conceptual overview of the possible applications of big data in decision-making, the study conducts a literature analysis and analyses secondary data. Findings: The assessment of policy efficiency in carbon sequestration technologies (CSTs) in Southeast Asia’s manufacturing sector reveals several challenges. High costs and financial barriers limit the adoption of CSTs, especially for small and medium enterprises (SMEs). Inconsistent policy implementation across the region, with fragmented regulations, further hinders technology uptake. Despite existing policies, many firms lack awareness and technical expertise in CSTs, emphasizing the need for government support through subsidies, tax breaks, and training programs. Additionally, regional collaboration, such as through ASEAN, could harmonize policies and promote broader CST adoption. Stronger enforcement and financial incentives are essential to improving policy efficiency and accelerating CST integration in Southeast Asia’s manufacturing industry. Implications to Theory, Practice and Policy: To enhance the theoretical understanding of policy efficiency in carbon sequestration technologies, research should build on institutional theory and environmental economics frameworks. Governments and environmental agencies should collaborate to create training programs and workshops that build local expertise in operating and maintaining CSTs. Carbon pricing mechanisms should also be introduced to create economic pressure on industries to reduce emissions.

Keywords: Industrial Growth; Carbon Capture Initiatives (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bfy:ojtejt:v:8:y:2024:i:5:p:69-81:id:2481

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