Offset (verb): To counterbalance a quantity of GHG emissions by retiring or canceling an equivalent quantity of carbon credits.
Note: GHG emissions of an entity can also be counterbalanced through CDR undertaken by that entity
Offset (noun) : A unit that represents the reduction, avoidance or removal of a ton of CO2 or CO2 equivalent by one entity, commonly purchased as a carbon credit, that is used by another entity to counterbalance a ton of GHG emissions by that other entity.
Source: The State of CDR, 2nd Edition