Carbon credits are an increasingly important source of revenue and risk management for leading investment banks, energy companies and industrial corporations. The global carbon offset market doubled from 2006 to 2007 to reach $64 billion, after tripling in 2006, according to the World Bank. The EU Emissions Trading Scheme accounted for almost $50 billion of that, up from $25 billion in 2006.

However, there is still no agreement on comprehensive standards for carbon credits auditing and accounting