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The idea is that each ton of carbon emitted by a particular plane flight, for instance, can be counterbalanced by a ton of carbon saved by a particular forest, and carbon offset groups have sought to be the intermediaries arranging that balance.

Advocates like Graphyte’s Rogers want to ensure the market for carbon removal credits avoids the problems and scandals that have plagued the carbon offset market.

But carbon offset projects have a poor record, and examples of their failures abound.

Their findings, published in the journal, Cleaner Environmental Systems, provide important insights for policymakers to improve the effectiveness and credibility of the carbon offset market.

"The carbon offset market is one of the most economically effective means of reducing carbon emissions," says first author Professor Hidemichi Fujii of Kyushu University's Faculty of Economics.