The ability to accurately monitor, record, report and verify greenhouse gas emissions is the cornerstone of any effective policy to mitigate climate change. Accounting for Carbon provides the first authoritative overview of the monitoring, reporting and verification (MRV) of emissions from the industrial site, project and company level to the regional and national level. It describes the MRV procedures in place in more than fifteen of the most important policy frameworks - such as emissions trading systems in Europe, Australia, California and China, and the United Nations Framework Convention on Climate Change - and compares them along key criteria such as scope, cost, uncertainty and flexibility. This book draws on the work of engineers and economists to provide a practical guide to help government and non-governmental policymakers and key stakeholders in industry to better understand different MRV requirements, the key trade-offs faced by regulators and the choices made by up-and-running carbon pricing initiatives.

'Confidence in the impact of climate policies and actions is underpinned by the integrity of measurement - both of baseline scenarios and the impact of mitigation measures. This book provides a thorough comparison of the main tools and mechanisms developed over the last decade, consolidating our understanding of best practice within the carbon markets and climate policy. It provides a useful guide to creating better systems to help solve the generational challenge of climate change.'

Adrian Rimmer - Chief Executive Officer, The Gold Standard Foundation

'The GHG monitoring, reporting and verification (MRV) system provides a foundation for development and implementation of any climate policy. This book provides excellent examples on how MRV have been implemented by countries at both program and project level. Countries may have different priorities and preferences in choosing a suitable policy instrument, e.g. emissions trading or carbon tax for pricing carbon. However, MRV accounting is an essential part of the 'no-regrets' approach to climate change, regardless of the choice of the instrument.'

Xueman Wang - Team Leader, Partnership for Market Readiness, Climate and Carbon Finance, Climate Change Group, The World Bank Group