The carbon budget is the total amount of carbon that can be emitted into the atmosphere within a specified time period while still maintaining a stable climate and preventing dangerous levels of global warming. It is a key concept in carbon management, as it helps to determine the maximum amount of carbon that can be released without exceeding the limits of the Earth's natural ability to absorb and store it. By setting a carbon budget, organizations and governments can plan and implement strategies to reduce their carbon emissions and stay within their allocated budget. This helps to ensure that human activities do not contribute significantly to climate change and other negative environmental impacts.