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Greenhouse effect, a warming of Earth’s surface and troposphere (the lowest layer of the atmosphere) is caused by the presence of water vapour, carbon dioxide, methane, and certain other gases in the air. Of those gases, known as greenhouse gases, water vapour has the largest effect. The atmosphere allows most of the visible light from the Sun to pass through and reach Earth’s surface. As Earth’s surface is heated by sunlight, it radiates part of this energy back toward space as infrared radiation. This radiation, unlike visible light, tends to be absorbed by the greenhouse gases in the atmosphere, raising its temperature. The heated atmosphere in turn radiates infrared radiation back toward Earth’s surface. 

So the correct option is 'accumulation of CO$ _2$ and depletion of O$ _3$'.