Environmental Pollution has become a global phenomena, it has reached to an alarming level due to vast industrialization. Environment pollution has led us to Global warming, Green house effect, Acid Rain etc. In the recent past, environment concern has led to the development of a concept which records environmental effects of organizations activities, also known as “Green Accounting”. Investors are concerned about Green Accounting as, much of the environmental cost such as waste disposal cost, regulatory cost, investment in Green technology etc could be reduced if due concerned is given to “Green Accounting”. Green Accounting helps to determine the resource applied and the cost induced on the eco system. Our goal is to show that Green Accounting is both feasible and a need of the hour. The paper discuss different point view put forward on the topic of Green accounting, and also the suggestions challenges and opportunities proposed by different authors.