A transferable instrument certifed by independent certifcation bodies or governments representing an emissions reduction of one metric tonne of CO2. Offsets credits are created through projects that reduce or avoid carbon emissions or that remove and store CO2 that would otherwise be released into the atmosphere – examples include afforestation and reforestation projects to reverse the damaging effects of deforestation in destroying natural carbon storage capacity. Credits can be bought and sold: buyers include companies seeking to offset hard-to-abate carbon emissions; sellers include landowners and project developers developing offset projects.