With global efforts to combat climate change, accountants from participating entities worldwide need to report the economic value of carbon credits and related assets in carbon markets. However, the absence of formal accounting guidelines allows the selection of accounting practices and...

The paper looks at the global environment as a public good and as a sink for CO2-emissions. It discusses problems to be solved in institutional arrangements to protect global environmental media and looks at criteria for allocating the costs of emission reduction and emission rights. It analyzes...