The recent times have witnessed a rise in the number of transactions involving carbon trading. With India being an important partner in such transactions, the Accounting Standards Board of Institute of Chartered Accountants of India (ICAI) has formulated this Guidance Note on Accounting for Self-generated Certified Emission Reductions (CERs) to provide guidance on the accounting issues involved in such transactions, as the carbon trading market is expected to grow in the years to come.
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