Provide a direct, specific answer for the discussion topic of "Carbon Accounting".
Relate to regulatory theory, fair value and decision usefulness as it is relevant to the debate on carbon accounting,
Address all aspects of the question, demonstrate in depth technical knowledge about this topic, show a good understanding of the relevant theories (advanced accounting theories) and extensive application of theory to current practice and real world events, strong evidence of original critical thinking. In the essay, the argument should have a clear controlling purpose, must be well structured supported by a wide variety of credible references and communicates key ideas with clarity. Also, please check that the spelling and grammar are excellent. Stay focussed on carbon accounting, relate all the arguments to carbon accounting in the advanced accounting theories context.