Policy Options for Reducing Greenhouse Gas Emissions in the Oil, Gas and Petrochemical Industry in Trinidad and Tobago
|Author||Inter-American Development Bank (IDB)|
Trinidad and Tobago faces a challenge with regards to climate change. The country contributes less than 1.0 % of global greenhouse gas (GHG) emissions but its annual emissions per capita rank very high (38.2 tCO2 / inhabitant year) according to the World Bank (2010), only surpassed by Qatar (40.3) and followed by Kuwait (28.7), and Brunei Darussalam (23.1).
The country's economy is highly dependent on the export of fossil fuels but, at the same time, as other Caribbean countries, it is vulnerable to the impacts of climate change and therefore a strong international action to mitigate climate change will be beneficial for the country. Most of this challenge is related to the oil and gas sector.
The country has used its hydrocarbon reserves to create a dynamic economy that goes beyond the extraction and processing of oil and gas. Having natural energy sources available is crucial to explain how energy intensive industries throve, as well as to understand the evolution of other emitting sectors such as transport.