Here is a new money-making model for you. Plant a small forest in your backyard. Call it “afforestation” and “carbon sequestration.” Calculate how many tons of carbon dioxide your forest will lock up over its lifetime. Then sell those carbon credits to companies and private entities that are still busy pumping CO2 into the atmosphere. Congratulations, you have just launched carbon offsets! It's not that simple, of course, but in the race to reduce their carbon footprint, companies are realizing that the carbon offset market is largely unregulated. The carbon offset market is voluntary – there is no government agency that sets the standard emissions reductions that an eligible project must meet. There are also no set criteria for what makes a viable carbon offset project. Take a quick look at voluntary carbon markets and you’ll see a dizzying array of projects on offer. Renewable energy projects are always popular, as are projects that lock in carbon emissions. You’ll also find forestry projects. Biogas projects. Water quality projects. The list goes on and on, with some projects seeming increasingly unrelated to actually reducing greenhouse gas emissions. (Carboncredits.com)