Usually means: Compensation for emitted carbon dioxide.
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We found 8 dictionaries that define the word carbon offset:

General (7 matching dictionaries)
  1. carbon offset: Merriam-Webster
  2. carbon offset: The Word Spy
  3. carbon-offset, carbon-offset, carbon offset: Collins English Dictionary
  4. carbon-offset: Wordnik
  5. carbon offset: Cambridge Advanced Learner's Dictionary
  6. carbon offset: Wiktionary
  7. Carbon Offset, Carbon offset: Wikipedia, the Free Encyclopedia

Slang (1 matching dictionary)
  1. Carbon Offset: Urban Dictionary

Definitions from Wiktionary (carbon offset)

noun:  A reduction in carbon dioxide emission by a third party purchased by a heavy carbon dioxide producer as part of carbon emissions trading.

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