Carbon credit accounting: a budding issue

One of the most significant global level socio-political, technological and economic issues being faced by one and all, including corporate world is regarding the causes and consequences of Global Warming (GW). One of the major reasons for GW is the failure of ozone layer to protect the earth's atmosphere from ultra-violet rays. This failure is because of industrial pollution and some substances being emitted in the atmosphere by virtue of human activities like combustion of fossil fuels, deforestation etc. Due to these, there are many unusual changes in the climatic conditions like species loss, floods, earthquakes, droughts, frequent storms, crops failure, scanty rainfall, rising sea levels disappearing of islands and coastal areas and many other irreparable damages. In this paper, an attempt has been made to know why carbon accounting is becoming a necessity for survival and a tool for sustainable development.