Barriers to and determinants of funding sustainable development projects in developing countries : a case study of the eThekwini Municipality

Abstract

The purpose of this study was to evaluate the barriers to and the determinants of funding sustainable development through the implementation of the Clean Development Mechanism at the Bisasar Road and Mariannhill landfill sites.

The Clean Development Mechanism is an economic construct, arising out of the Kyoto Protocol (UNFCCC 2004:10), and formulated to promote social and economic welfare by transferring technology in such a manner, that it promotes sustainable development and ecological renewal. The stated goal of CDM (UNFCCC: 10) is to reduce harmful emissions and thereafter, to produce sustainable development and ecological renewal.

This research utilised the case study methodology as advocated by Eisenhardt (1989:538). The study employed multiple data collection methodologies which included face-face interviews, within case analysis, triangulation, field notes and photographs. An important component of the data collection methodology was to access financial records of revenue flows for the CDM implementation process from January 2009 to December 2015.

The research found that there is no conclusive evidence to suggest that the Clean Development Mechanism, as implemented at Bisasar Road and Mariannhill, reduced carbon emissions. Further, the study found that the production of clean energy produced financial losses rather than revenues for funding sustainable development.

The relevance and value of this research lies in the presentation and formatting of the Systematic Sequential Analysis Model. The purpose of the Systematic Sequential Analysis Model is to introduce a series of financial, macro-economic, micro-economic, and technical sustainability filters for the implementation of the Clean Development Mechanism in developing countries.