A grey prediction model optimized by meta-heuristic algorithms and its application in forecasting carbon emissions from road fuel combustion

In Cameroon, predicting CO2 emissions from road transports is crucial since it contributes in formulating the government's energy plans and strategies. In this perspective, this paper proposes an optimized wavelet transform hausdorff multivariate grey model (OWTHGM(1,N)) that addresses some of the weaknesses of the classical GM(1,N) model such as inaccurate prediction and poor stability. In all, three improvements have been made to the classical GM(1,N): First, all inputs are filtered using the wavelet transform, thereby denoising variables that could hamper modelling; second, a new time response function is established using the Hausdorff derivative; and finally, the use of Rao's algorithm to optimise the model's parameters as well as the ξ-order accumulated value of the observation data described by the Hausdorff derivative. In order to demonstrate the effectiveness of OWTHGM(1,N), it is applied to predict CO2 emissions from road transport. The new model produces predictions with 1.27 % MAPE and 79.983 RMSE, and is therefore more accurate than competing models. OWTHGM(1,N) could therefore serve a reliable forecasting tool and used to monitor the evolution of CO2 emissions in Cameroon. The forecast results also serve as a sound foundation for the formulation of energy consumption strategies and environmental policies.