Environmental impact assessments analyze the possibility and strength of positive/negative environmental consequences of a project, as means to establish prevention or mitigation measures. The results are used by regulators to assess whether an organization made good-faith attempts to account for sustainability values and to justify their future behavior.
Carbon footprinting is the simplest way to reduce an organization's environmental impact, by quantifying its supply chain or policy behavior through GHG or CO2 emission-equivalent. Knowing one's footprint assists in cost-recovery, market positioning, and compliance through carbon credits and aligning with green growth industries, e.g. renewable energy.