Research Articles Emissions Trading and Carbon Credit Accounting for Sustainable Energy Development With Focus on India
A. N. Sarkar Senior Professor (International Business), Asia-Pacific Institute of Management, New Delhi, India

Abstract Global climate change is inextricably linked with the enhanced build-up of greenhouse gases. Emissions- trading in the form of carbon credits or CERs is opening up a new vista of trade opportunities with prospect for gradual reduction of emissions particularly by the developed nations under Annexure-I categories. Various national and international programmes undertaken by the government and voluntarily by the non-government agencies have positively impacted on progressive reduction of emissions in many parts of the world. The paper highlights the emerging issues linked to the modalities of emission-trading, together with scope for developing sound accounting procedures for trading carbon credits. Paper discusses the opportunities for developing a sound marketing system of carbon credits with built-in efficiency in transactions, accountability and transparency in reporting systems with focus on India. Paper also
GMJ,VOL 4,ISSUE 1 & 2, JANUARY - DECEMBER 2010

underlines the need to comply with the Global Accounting Standards, Tax Planning, access to Multi-commodity Exchange Market, certification, verification and enforcement procedures for proper execution of emission-trading initiatives aimed at achieving carbon neutrality. The aspects of Carbon management with focus on carbon neutrality, sustainable energy development and implicit energy security are also highlighted. Key Words: Emissions trading, Carbon Management, Global Carbon Accounting, carbon Offsetting & Foot-printing, Carbon Neutrality, Carbon Literacy Introduction The Intergovernmental Panel on Climate Change (IPCC, 1990)1 reported for the first time in 1990 that