Effect of green investment to reduce carbon emissions in an imperfect production system

Abstract

Climate change is a serious hazard to human life today, and the greenhouse effect is its key cause. The production sector is one of the biggest contributors to climate change as it accounts for a large part of greenhouse gas emissions. Many nations have created ecological policies and regulations to prevent industries from emitting excessive amounts of carbon emissions (CO2) into the ecosystem. Industry experts believe that green technology might aid in making a more sustainable future as a result of the current climate crisis. Investments in green technologies are rising rapidly which may allow more nations to adopt green technology and transition away from non-renewable resources. This research explores the viability of investing in green technology to achieve a sustainable production scheduling considering an uncertain amount of CO2 during the processes of production, transport, and storage, and thus offers managerial insights for policymakers to reduce both CO2 and overall cost. This study assumes an imperfect production process where a fraction of the items is faulty, and the firm employs a rework approach to rectify the faulty items. The firm invests in green technology to significantly cut CO2 and support innovation to address the climate crisis and benefit communities. The main point of the study is to develop a solution procedure of the problem associated with the amount of CO2 where all the CO2 factors might increase or decrease fuzziness. According to the skills gained by the decision maker we fuzzify all CO2 factors as trapezoidal fuzzy numbers, and we use a signed distance method to defuzzify the model. The results imply that the production sector’s outsize ecological CO2 can be reduced without compromising quality by designing optimal production strategies. The findings also confirm that green investment is the greatest economical method for reducing CO2 and overall costs.