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Glossary:Carbon offsets
A unit of greenhouse gas emissions reduced by one actor that can be traded to compensate for emissions by another actor. Private sector companies are increasingly relying on voluntary offsetting by means of carbon credits to get to carbon-neutral status. For example – company A could offset its unavoidable emissions by purchasing carbon credits from company B that is in the business of, or uses, renewable energy. Company B in exchange would set up a new solar plant or a new wind farm. In this case, B benefits from clean energy and A from its reduced carbon footprint.[1]