Setting up a Tradable Carbon Offsets System: Risk, Uncertainty and Caveats Mansi Grover 1 Darrell Bosch 2 Kurt Stephenson 3 Department of Agricultural and Applied Economics, College of Agriculture and Life Sciences, Virginia Polytechnic Institute and State University Keywords: carbon offsets, carbon sequestration, risk, uncertainty, policy/ institutional risk, project risk, measurement risk, baseline, leakage, offset policy 1 Graduate Research assistant, Department of Agricultural and Applied Economics, College of Agriculture and Life Sciences, Virginia Polytechnic Institute and State University 2 Professor, Department of Agricultural and Applied Economics, College of Agriculture and Life Sciences, Virginia Polytechnic Institute and State University 3 Associate professor, Department of Agricultural and Applied Economics, College of Agriculture and Life Sciences, Virginia Polytechnic Institute and State University