Reducing greenhouse gas (GHG) emissions, particularly from industrial production, to combat global climate change is one of the greatest sustainable development challenges facing the international community. Countries are adopting Nationally Appropriate Mitigation Actions (NAMAs), low-carbon development strategies and climate change policies to address climate change issues and at the same time achieve their development goals. Globally, the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol have paved the way for voluntary greenhouse gas emission reduction targets. To facilitate mitigation actions, carbon intensities of the production process are monitored and greenhouse gas inventories are developed. Such accounting for greenhouse gases is a common practice in developed countries and is increasingly being adopted in developing countries as well. However, there was a need for internationally acceptable standardized and comparable greenhouse gas accounting and reporting which led to the creation of the Greenhouse Gas Protocol (GHG Protocol), which developed protocols, standards and guidelines for the objective . What is the GHG Protocol? The GHG protocol is the most used and internationally accepted accounting tool or methodology for quantifying and managing greenhouse gas emissions. It serves as the basis for nearly all greenhouse gas standards and programs in the world, from the International Standards Organization (ISO) to the Climate Registry, as well as hundreds of greenhouse gas inventories prepared by individual companies. The GHG Protocol also offers developing countries an internationally accepted management tool to help their businesses compete in the global market and their governments make informed decisions about climate change... middle of paper... It is possible Access more information about the GHG Protocol Initiative from http://www.ghgprotocol.org/Works CitedCDP. 2011. CDP India 200 Report 2011: Accelerating low-carbon growth. London: Carbon Disclosure Project. Also available at: https://www.cdproject.net/CDPResults/CDP-2011-India-200-Report.pdf accessed 27 March 2012. CorporateRegister.com Ltd.. 2007. The Corporate Climate Communications Report 2007. London: CorporateRegister.com Ltd. Also available at http://www.corporateregister.com/pdf/CCCReport_07.pdf accessed 27 March 2012.WRI and WBCSD. 2007. Measure to manage: a guide to designing greenhouse gas accounting and reporting programs. Washington, DC and Geneva: World Resources Institute and World Business Council for Sustainable Development. Also available at: http://www.wri.org/publication/measuring-to-manage accessed March 26 2012.