SEI, "A Review of Offset Programs: Trading Systems, Funds, Protocols, Standards and Retailers"

From the SEI: Carbon or greenhouse gas (GHG) offsets have long been promoted as an important element of a comprehensive climate policy approach. Offset programs can reduce the overall cost of achieving a given emission goal by enabling emission reductions to occur where costs are lower. Furthermore, offsets have the potential to deliver sustainability co-benefits, spurred through technology development and transfer, and to develop human and institutional capacity for reducing emissions in sectors and locations not included in a cap and trade or a mandatory government policy. However, offsets can pose a risk to the environmental integrity of climate actions, especially if issues surrounding additionality, permanence, leakage, quantification and verification are not adequately addressed. The challenge for policymakers is clear: to design offset programs and policies that can maximize their potential benefits while minimizing their potential risks. This report is a systematic and comprehensive review of existing offset programs. The goal of this review is to provide an up to-date analysis and synthesis of the most influential offset programs and activities, to reflect on lessons learned, and thus to inform participants and designers of current and future offset programs. Our intention is to periodically update this review to stay abreast of ongoing developments, and to develop a website portal to make this information more accessible. Comments and suggestions are welcome: offsets[at]sei-us.org