Forecasting the CO2 emissions at the global level: A multilayer artificial neural network modelling

Pradyot Ranjan Jena, Shunsuke Managi, Babita Majhi

Research output: Contribution to journalArticlepeer-review

Abstract

Better accuracy in short‐term forecasting is required for intermediate planning for the national target to reduce CO2 emissions. High stake climate change conventions need accurate predictions of the future emission growth path of the participating countries to make informed decisions. The current study forecasts the CO2 emissions of the 17 key emitting countries. Unlike previous studies where linear statistical modeling is used to forecast the emissions, we develop a multilayer artificial neural network model to forecast the emissions. This model is a dynamic nonlinear model that helps to obtain optimal weights for the predictors with a high level of prediction accuracy. The model uses the gross domestic product (GDP), urban population ratio, and trade openness, as predictors for CO2 emissions. We observe an average of 96% prediction accuracy among the 17 countries which is much higher than the accuracy of the previous models. Using the optimal weights and available input data the forecasting of CO2 emissions is undertaken. The results show that high emitting countries, such as China, India, Iran, Indonesia, and Saudi Arabia are expected to increase their emissions in the near future. Currently, low emitting countries, such as Brazil, South Africa, Turkey, and South Korea will also tread on a high emission growth path. On the other hand, the USA, Japan, UK, France, Italy, Australia, and Canada will continuously reduce their emissions. These findings will help the countries to engage in climate mitigation and adaptation negotiations.

Original languageEnglish
Article number6336
JournalEnergies
Volume14
Issue number19
DOIs
Publication statusPublished - Oct 1 2021

All Science Journal Classification (ASJC) codes

  • Renewable Energy, Sustainability and the Environment
  • Fuel Technology
  • Energy Engineering and Power Technology
  • Energy (miscellaneous)
  • Control and Optimization
  • Electrical and Electronic Engineering

Fingerprint

Dive into the research topics of 'Forecasting the CO<sub>2</sub> emissions at the global level: A multilayer artificial neural network modelling'. Together they form a unique fingerprint.

Cite this