Forecasting Social Cost of Carbon With Predictive Machine Learning Models for CO₂ And GHG Emissions

Abstract

Abstract Our study focuses on the Social Cost of Carbon in Relation to Climate Risk. Since information on the social cost of carbon and its effects on the climate is not easily accessible, we searched the internet for pertinent data sets. We have information on emissions from 470 oil and gas companies in 2021 as well as information on emissions in India, China, and the entire Asian continent from 1850 to 2021. We have observed a direct relationship between the upkeep of carbon emission monitoring systems and the carbon emissions of oil and gas firms. As the upkeep of the carbon emission monitoring systems increased, we discovered that oil and gas industries' carbon emissions decreased. To forecast the carbon emissions in India, China, and all of Asia, we also built a machine-learning model and gave it data from 1850 to 2021.