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Carbon Footprint Analysis with Chat GPT and Python
In today’s world, the impact of businesses on the environment is a matter of increasing concern.
As companies strive to become more environmentally responsible, one essential tool that financial planning and analysis (FP&A) professionals must understand and utilize is Carbon Footprint Analysis.
This analysis involves calculating the total amount of greenhouse gases (GHGs), particularly carbon dioxide (CO2), emitted directly and indirectly by a business.
The Basics of Carbon Footprint Analysis for Finance
Carbon Footprint Analysis is the process of quantifying the greenhouse gas emissions produced by a business’s activities. These emissions are classified into three scopes:
Scope 1: Direct emissions stemming from company-owned and controlled resources. This includes emissions from manufacturing processes, company vehicles, and other on-site activities.
Scope 2: Indirect emissions associated with the generation of purchased electricity, steam, heating, and cooling consumed by the company. These emissions are produced by external sources but are linked to the company’s energy consumption.
Scope 3: Other indirect emissions, such as those resulting from business travel…
