When you pay someone else to remove the GHGs you emitted into the atmosphere, it’s called carbon offsetting.
Another option when purchasing carbon credits is to retire them. This essentially means that you don’t use the carbon emission rights that you have purchased. You are also able to fund emission-reducing projects.
The most ordinary projects include renewable energy such as wind farms, biomass energy systems and hydroelectric dams. Some other common project types include energy efficiency projects, destructing industrial pollutants or agricultural by-products, destructing landfill methane, and creating forestry projects.