Carbon Accounting

Ref: Calling All Accountants Seeking a Green Career – A News article in Green Economy Post

carbon accounting is the accounting undertaken to measure the amount of carbon dioxide equivalents that will not be released into the atmosphere as a result of Flexible Mechanisms projects under the Kyoto Treaty.

Carbon emissions accounting has become an activity of international importance, as it is the means by which nations’ compliance with the Kyoto Protocol is documented. The treaty has now catalyzed markets in carbon offsets, which also include buyers and sellers not bound by the Protocol.

An estimated 3,000 companies worldwide track and report GHG emissions. In much the same way that businesses use financial reporting to judge operational performance, many organizations use GHG emissions reporting to measure their sustainability performance –this new category is called: Enterprise Carbon Accounting (ECA). President Obama’s stated commitment to sustainability and his investment in it, are leading many firms to prepare for increased pressure to improve and report on their sustainability efforts, so the demand for Enterprise Carbon Accounting is increasing.