Option 1: It is an international accounting tool for government and business leaders to understand, quantify and manage greenhouse gas emissions.

The correct answer is Option 1. The Greenhouse Gas Protocol is a widely recognized and accepted international accounting tool developed by the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD). It provides a standardized framework for governments and businesses to measure, quantify, and manage greenhouse gas emissions. The Protocol includes two separate standards: the Corporate Accounting and Reporting Standard (Corporate Standard) for businesses, and the Public Sector Accounting and Reporting Standard (Public Sector Standard) for governments.

The Greenhouse Gas Protocol is used by organizations around the world to measure and report their greenhouse gas emissions, and it has become the de facto standard for greenhouse gas accounting. It provides guidelines and methodologies for identifying, measuring, and reporting emissions from various sources, such as direct emissions from owned or controlled sources (Scope 1 emissions), indirect emissions from purchased electricity, heat, or steam (Scope 2 emissions), and other indirect emissions from the value chain, including suppliers, transportation, and use of products (Scope 3 emissions).

The Protocol also includes guidance on setting emission reduction targets, tracking progress, and reporting emissions in a transparent and consistent manner. It is widely used by governments, businesses, and other organizations as a tool for understanding their carbon footprint, identifying emission reduction opportunities, and managing their environmental impact. Many governments and businesses use the Greenhouse Gas Protocol as a basis for developing and implementing their climate strategies, sustainability goals, and reporting mechanisms.

The Greenhouse Gas Protocol has been instrumental in advancing global efforts to address climate change by providing a standardized and transparent approach to accounting for greenhouse gas emissions. It has been widely adopted by businesses, governments, and other organizations as a practical tool for managing their environmental impact and contributing to global climate goals.