A London-based coalition is launching a new funding scheme for carbon offsets. According to its coordinators, this differs from conventional carbon offsetting, which is mainly focused on promoting renewable energy, in that it will also help vulnerable people cope with phenomena such as more severe droughts and floods. Over the coming year, the consortium, coordinated by the new economics foundation (nef) and the International Institute for Environment and Development, will test its approach in regions expected to be worst and soonest hit by climate change in Africa, Asia and Latin America.