Publisher

UNPARUNPAR

Journal Sustainability Accounting JournalSustainability Accounting Journal Abstract

Carbon accounting has transitioned from a peripheral corporate social responsibility (CSR) activity to a central pillar of global climate governance and financial risk management. This study presents an exhaustive meta-analysis of the carbon accounting literature published between 2020 and 2025, synthesizing findings from over 100 open-access sources to evaluate the current state of methodologies, technological integrations, and strategic implications. The analysis reveals a complex, rapidly maturing landscape characterized by three dominant trends: the migration of focus from direct (Scope 1) to indirect value chain (Scope 3) emissions, the digitalization of carbon data through blockchain and artificial intelligence (AI), and the increasingly quantified relationship between carbon performance and financial outcomes. Methodologically, the review highlights persistent challenges in Scope 3 measurement, specifically the trade-offs between spend-based and activity-based calculations, and the organizing-performing paradox where increased transparency initially inflates reported emissions. Technological interventions are identified as pivotal, with blockchain offering solutions to double-counting and AI enhancing predictive accuracy for missing data, though both face hurdles regarding interoperability and the oracle problem. Sector-specific analysis across construction, logistics, agriculture, and healthcare demonstrates the necessity of context-dependent frameworks, such as well-to-wake accounting in maritime transport and soil organic carbon (SOC) verification in agriculture. Critically, the synthesis of financial performance data indicates a non-linear relationship where the economic benefits of carbon accounting are moderated by firm size and regulatory environment, with a distinct green premium emerging in high-accountability markets. The study concludes that while carbon accounting is transitioning toward audit-grade precision, significant gaps remain in global standardization, particularly for Small and Medium Enterprises (SMEs) and developing economies facing Ecologically Unequal Exchange (EUE).

Conclusion

The study concludes that carbon accounting has matured into a rigorous, technology-driven discipline essential for global commerce.Significant challenges remain in achieving audit-grade data, particularly regarding Scope 3 emissions and global standardization.The financial benefits of carbon accounting are realized through long-term risk reduction and operational efficiency, rather than immediate market rewards.

Future Research

Future research should investigate solutions to the Oracle Problem in blockchain applications to ensure data integrity in carbon accounting systems. Further studies are needed to develop standardized methodologies for accounting for the carbon handprint (avoided emissions) of products and services, enabling a more comprehensive assessment of environmental impact. Finally, research should focus on creating simplified, accessible carbon accounting frameworks tailored to the needs of SMEs and firms in developing countries, fostering inclusivity and preventing the exclusion of these stakeholders from the emerging green economy.

References

1. Carbon emissions accounting and uncertainty analysis in campus settings: A case study of a university... journals.plos.org/plosone/article?id=10.1371/journal.pone.0321216Carbon emissions accounting and uncertainty analysis in campus settings A case study of a university journals plos plosone article id 10 1371 journal pone 0321216

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