India are among one of the developing economy of the world and every developing country have to face various problem related to protecting the environment, promoting economic development and current environment issues like climate change, global warming, ozone depilation and greenhouse gas etc. and these problems emerging rapidly so the trade-off between environmental protection and development required. A careful assessment of the benefits and cost of environmental damages is necessary to find safe limits of environmental degradation and require level of sustainable development. Responsibility towards environment has become one of the most crucial areas of social responsibility, and corporate enterprises are facing the challenges to determine their true profits, which are environmentally sustainable one. For this corporates need to accurate assessment of cost and benefits of environment preservation measures of companies. It provides a common framework for organisation to identifies and account for past, present and future environmental cost to support managerial decision-making, control and public disclosure.