The New Wild West Is Green: Carbon Offset Markets, Transactions, and Providers

We undertook an evidence-based study of 117 carbon offset providers from eight countries. From this study we contribute a conceptualization of venture performance and an agenda for research in this important domain. Our findings show how additionality (i.e., project feasibility without external funding), certifica-tion, standards, prices, and transparency distinguish the best carbon offset providers. We lay a foundation for understanding venture strategy formulation, market entry, and competition in these unregulated and volatile organizational environments. As sustainability and environmental issues continue to influence activities in the business world, understanding the issues we delineate in this paper becomes more important for management scholars and practitioners. As a research area, carbon offsetting offers anunparalleled context for appreciating the bal-ance between environmental concerns and business and economic development. Carbon off-sets are allowances that represent one unit of carbon dioxide emissions that are linked to cli-mate change. The unit is usually measured as a metric ton, or 2,205 pounds. Carbon offset pro-viders sell these allowances to customers who ar