Number: RL34241
Title: Voluntary Carbon Offsets: Overview and Assessment
Authors: Jonathan L. Ramseur, Resources, Science, and Industry Division 
Abstract: In the United States and around the world, a growing number of businesses, interest groups, and individuals are purchasing carbon offsets and asserting that all or part of their greenhouse gas (GHG) emitting activities (e.g., air travel, corporate events, or personal automobile use) are "carbon neutral" as a result. These exchanges represent a voluntary market for carbon offsets, because there is currently no federal requirement that GHG emissions be curtailed. The concept of purchasing carbon offsets to achieve carbon neutrality (or reduce one's "carbon footprint") has spurred both interest and debate in recent years. This report provides an overview of carbon offsets and examines some of the issues that are generating debate (and controversy). Although there is some overlap of issues between voluntary carbon offsets and the offsets used to comply with mandatory reduction regimes, this report focuses on the voluntary offsets market. Unless otherwise stated, the carbon offsets in this report refer to those exchanged in the voluntary market.
Pages: 12
Date: November 7, 2007