performance in the literature is using scopes 1, 2, and 3,which correspond to direct, indirect and supply chainemissions respectively (Velte et al., 2020). Furthermore,carbon performance generally refers to how wellcompanies manage and control their carbon emissionsand can be divided into two categories: i. How carbonperformance is measured, and ii. The factors that affectthe carbon performance of companies (He et al., 2021).

Table 5

Carbon accounting Definitions

Carbon accounting

Where more confusion begins to exist is in the otherthree concepts. On the one hand, as with carbondisclosure, various authors have developed an importantvariety of concepts for carbon accounting. Carbonaccounting can have different meanings depending onthe person using the term (Ascui & Lovell, 2011). Themost important definitions can be found in table 5.

Author Definition (Ascui & Lovell, 2011, Carbon accounting focuses on the "measurement or monitoring of reductions in carbon P. 980) dioxide emissions globally, for both mandatory and voluntary research purposes." Carbon accounting includes the recognition, non-monetary and monetary evaluation and(Stechemesser & monitoring of greenhouse gas emissions at all levels of the value chain and the recognition,Guenther, 2012, P. 35) evaluation and monitoring of the effects of these emissions on the cycle of carbon in ecosystems. Carbon accounting is a system that uses accounting methods and procedures to collect, recordand analyze information related to climate change and to account and report carbon-related(Tang, 2017, P. 11) assets, liabilities, expenses, and income to inform decision-making processes of internal managers and external stakeholders. Carbon accounting collects, summarizes, and measures carbon emissions data to allow(Borghei, 2021, P. 15) comparisons between reporting periods and facilitate independent reviews for data accuracy and compliance.

Source: Own elaboration, 2021.

As it can be appreciated, there is a consensus in theprevious definitions that the main objective of carbonaccounting is to measure and recognize the GHGemissions of companies to be able to record them in theaccounting books either as assets or liabilities, and thus,to be able to integrate the financial information oforganizations into a more complete image.

Another important point to note about carbonaccounting is that it has been conceptualized in at leasttwo different ways. On the one hand, Ascui and Lovell,(2011) mention that carbon accounting can be

conceptualized among five main processes: i. Carbonphysical accounting, ii. Political carbon accounting, iii.Carbon accounting made possible by the market, iv.Carbon financial accounting, v. Carbon social /environmental accounting. On the other hand, He et al.(2021), in a more recent study, break down carbonaccounting into six components: i. Accounting forcarbon assets and liabilities, ii. Carbon Disclosure, iii.Carbon assurance, iv. Carbon management, v. Carbonperformance and, vi. Impact of carbon problems on thecapital market. However, it is not the purpose of this

Cumpean, J., Briseño, A., y Zorrilla Del Castillo, A. L.

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Vol. 7, núm. 21 / septiembre – diciembre del 2022