Can the Clean Development Mechanism (CDM) and other emerging offset policies be reconciled? This question is at the core of a new study carried out on behalf of the German Emissions Trading Authority (DEHSt) at the German Federal Environment Agency (UBA). Aki Kachi and Dennis Tänzler (adelphi), together with Wolfgang Sterk (Wuppertal Institute for Climate, Environment and Energy) investigate current developments with the CDM and other alternative offset systems to identify critical issues to consider with regard to future CDM reform efforts in order to preserve the main benefits and accomplishments of CDM’s heyday.