New York to Launch Carbon Market, Excluding Offsets to Protect Vulnerable Communities from Pollution Impact.

New York is planning to create the nation’s third statewide carbon market and will bar “offices” that allow polluters to meet emissions mandates by funding environmental projects in other states or countries. This move will be part of the state’s carbon market, which will not include an offset program that allows polluters in a carbon market to meet state emissions limits by funding climate-related projects such as tree-planting in Indonesia. California and Washington have robust offset programs in their carbon markets, which have helped polluters comply with state emissions standards. However, New York argues that these practices could harm communities with high pollution levels and vulnerable populations.