An instrument designed to allow the continuing release of carbon in one place in exchange for reducing the carbon release in another place. Carbon offsets are measured and credits are given for the amount that is reduced. One carbon credit represents the reduction of one metric ton (tonne) of carbon dioxide or its carbon dioxide equivalent (CO2e) in other greenhouse gases. Carbon offsets are issued by various bodies. Some are only accepted in voluntary markets. Only those issued by the Kyoto Protocol are accepted in the EU emissions trading system (EUETS).
