What is carbon accounting?

Carbon accounting is the process of calculating and tracking the amount of carbon dioxide (CO2) and other greenhouse gas (GHG) emissions that an organization produces and removes from the biosphere. It is an essential part of measuring and managing an organization's carbon footprint – the total emissions of greenhouse gases released into the atmosphere as a result of human activity. Carbon accounting enables individuals and organizations to measure the impact of carbon emissions on the environment from their various activities, processes and steps taken to offset emissions. It helps these entities understand their impact on the climate and provides a basis for making informed decisions to reduce their carbon footprint. (Andy Patrizio, whatis.com)