Carbon accounting describes the process of tracking and managing greenhouse gas emissions from a company's activities. It is the carbon equivalent of a financial balance sheet.

Net-Zero describes when no more greenhouse gases are emitted than are removed from the atmosphere. For most companies this means reducing greenhouse gas emissions as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere. 

Carbon neutral means when there is no net release of carbon dioxide into the atmosphere, usually this refers to the use of carbon offsetting.

Carbon offsetting is any reduction of greenhouse gas (GHG) emissions to make up for emissions that occur elsewhere.

To qualify as credits these need to be: 

1. Measurable - real & measured with accepted methodology.
2. Permanent - not reversible.
3. Additional - would not have otherwise been realised.
4. Verifiable - independently accredited.
5. Traceable - transparently accounted for and not double counted.

The GHG Protocol provides standardised frameworks for calculating and managing greenhouse gas emissions globally, covering private and public sector operations, value chains, and mitigation efforts.