Climate change is a complex phenomenon and an important change in either the average state of the climate or in its variability persisting for an extending period. Climate change is one of the most potent global environmental concerns created by humans for the humans dealing with problem of food and freshwater scarcity, natural ecosystems risks, health, etc. This paper illustrates a wide conception of carbon accounting, involving a system that uses accounting to document, evaluate and report climate change data, and carbon related capital, legal responsibilities, expenditure and income according to the users decision. This paper also describes how carbon accounting can play a role for the development of carbon management systems and assessment of energy efficacy, carbon productivity and revelation of carbon deduction activities. Carbon accounting is a multi-facet subject and naive inventive strategy is necessary to develop carbon accounting framework, methodology and feasible scheme. The conclusion states that carbon accounting is in its growth stage and endows promising future research opportunities.

Keywords: Climate Change, Carbon Accounting, Carbon Management, Global Environment.