Problem Statement
“Industries are making a carbon footprint free environment well we always know it’s difficult because how would one track it. Hence all en-compassing and includes direct and indirect emissions knows as scopes. The analysis would determine the exclusive global amount of carbon dioxide and other greenhouse gases which will help the existing industries to calculate and even predict their emissions for next few years.”
• Introduction In a trend of corporate and investors in any manufacturing industry have shown increased interest in carbon footprint analysis, which shows a keen align of how a given manufacture may result in carbon intensity of the environment. Emissions are directly related to energy costs, such that this tracking can have tangible relevance to the profilablity of the company. A gasp of carbon emissions can worn efficiencies of a company hence it is one of the most ignored stigma as seen in Indian manufacturing industries. At a minimum we have created a tool which
performs for a individual organization to better understand the company’s emission and have a value of CO2 index with a greater impact with competitive advantage among peers.
• Objectives
- From investors point of view – CO2 emissions helps in sustainability development which is one of the very hot topics in manufacturing industry.
- The Global scientific community has reached a consensus goal of stabilizing the earth’s climate to stay withing two digits. Our project can play a member role in the mission.
- The analysis does not take the full business cycle. So one have to possibly add manually. The advantage to work in the same would be better understand of emission chronology department wise.
- Given that using a carbon footprint will not provide a comprehensive approach, hence we have trained a dataset to see and analyze next 2 years of training data by using data science possibilities.
- Concluding with reduction targets it would be easier for us to achieve a company’s reduction target within set deadline.
• Tables Hardware Personal Machine Ie; Laptops Software Spyder, Anaconda navigator, Tableau, CLI, Terminal and Python IDE. Technique Regression model with multi-regressor pipeline approach.
• Implementation Methodology along with Flowchart Scope 1: Direct Greenhouse gas emissions from sources that are owned or controlled by a company. Scope 2: Indirect Greenhouse gas emissions resulting from the generation of electricity, heat or steam purchased by a company Scope 3: Indirect Greenhouse gas emissions from sources not owned or directly controlled by a company but related to the company’s activities. At a minimum, a carbon footprint analysis should include all scope 1 (direct) and scope 2 (indirect) carbon and methane emissions. Due to the difficulties in obtaining comparable and quantifiable data, Scope 3 emissions (from other emissions-generating activities such as supply chain) are not typically included. Investors should be able to conduct more robust analyses of all major GHG emissions as companies
improve their disclosure. At this time, a carbon footprint analysis cannot provide a complete picture of a given company's or investment portfolio's overall environmental impacts. In our opinion, it is critical to look further, toward the broader benefits associated with those businesses, in order to gain a better understanding of their broader portfolio and economic impact.
• Running Source Code Repository Link Here is the running source code link :
• Results with Screenshot • Data Visualization with Power BI or any other tool.
• Conclusion
Taking scope 3 or downstream impacts into account for both suppliers and consumers, in our opinion, aids in understanding total environmental impact. It can also help businesses assess where there may be opportunities to identify and engage suppliers who are leaders or laggards in this field. Companies concerned with scope 3 emissions can improve product recycling and disposal.
Overall, addressing scope 3 emissions can assist businesses in identifying and promoting energy efficiency opportunities outside of their own operations, including their products/services after they have been sold. Similarly, focusing on downstream effects can assist investors in identifying investment opportunities. We provide a few examples below to demonstrate how businesses and investors can have a broader, positive impact.
