Subject. This article discusses the approaches to the formation and presentation of information on carbon credits and greenhouse gas emissions quota fulfillment units in the companies' financial reporting. Objectives. The article aims to study international accounting practices and ways to disclose carbon credits and greenhouse gas emissions quota fulfillment units in financial reporting to design a national accounting methodology for new accounting objects that have appeared due to the regulated and voluntary carbon market’s development in Russia. Methods. For the study, I used analysis, synthesis, comparison, generalization, and abstraction. Results. The study deepens knowledge about legal regulation concerning reducing greenhouse gas emissions in the Russian Federation, adds titles to the literature on accounting for carbon emissions allowances, summarizes methods of financial reporting disclosure, justifies the need to develop a national accounting methodology for carbon credits and greenhouse gas emissions quota fulfillment units. Conclusions. The article contributes to improving awareness of all stakeholders about the consequences of the lack of clear recommendations on the formation, presentation and disclosure carbon credits and greenhouse gas emissions quota fulfillment units in financial reporting. The availability of a unified national methodology for the formation and disclosure of information about carbon credits will reduce the administrative burden on companies and ensure comparability of financial reporting for these new accounting objects.
Keywords: carbon emission allowances, carbon credit, greenhouse gas emissions quota fulfillment unit, accounting of emission allowances, financial reporting
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