Beef + Lamb New Zealand (B + LNZ) commissioned a report on international emissions trading systems and forestry to examine the relationship between emissions pricing and forestry in other countries. The study looks at how other countries are using 'offsets' under the Emissions Trading System (ETS) to transition to using less fossil fuels. A key finding was that New Zealand and Kazakhstan are the only countries that allow 100% offsets in their carbon pricing mechanism. While Kazakhstan theoretically allows 100% compensation, individual companies must apply for compensation on a project-by-project basis and in practice no cases of forestry compensation can be found. With New Zealand allowing 100 % offsets and full forest participation in the New Zealand ETS, the carbon market and forestry sectors are intricately linked, with the ability to significantly influence the other. The European Union and the United Kingdom do not allow carbon offsets in their ETS, while China, South Korea, and the US states of Washington, North Carolina, and California allow offsets below five percent. Meanwhile, Mexico and Taiwan, along with the Canadian province of Quebec, allow compensation of 10 percent, and other areas such as Tokyo up to 33 percent. While other countries enforce strict limits and requirements to ensure that offsets deliver various benefits, New Zealand has no set targets for reducing emissions from fossil fuel use or any limits on how many offsets can be made through the ETS to meet the change targets climate.