Voluntary, private offsets for carbon emissions have puzzled economists for a while. First, of course, why would people buy them if they are voluntary? Turns out they do. Second, and perhaps more important, how can we ensure that they do indeed make a difference, since some can even be counterproductive. (That's particularly true for offsets that aim to decrease the cost of renewable energy sources. Any meaningful climate action must involve decreasing the amount of carbon-intensive energy consumed.)

The Environmental Defense Fund has now created the CarbonOffsetList.org, a list of carbon offset projects any economist would like. (Full disclosure: EDF also sends me a bi-weekly paycheck.) Offsets on that list present real emissions reductions that are verifiable (and verified by a third party), permanent and would not have occurred otherwise (they pass the "additionality" test). Ten of the eleven projects that met EDF's criteria are related to methane. That's clearly where the biggest bang for the buck lies at the moment.

None of these voluntary offsets, of course, replace a real, firm cap on emissions. But as far as personal action goes, you could do a lot worse than go with some of the projects from this list.


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