to balance one influence against an opposing influence, so that there is no great difference as a result

The extra cost of travelling to work is offset by the lower price of houses here. 这里低廉的房价抵消了因上班路途远而产生的额外费用。

UK He keeps his petrol receipts because petrol is one of the expenses that he can offset against tax (= can show to the government as being a business cost, and so not pay tax). 他保留着他的汽油费收据，因为汽油费是可以抵扣税款的一项开支。

to pay for things that will reduce carbon dioxide in order to reduce the damage caused by carbon dioxide that you produce

We offset all our long-haul flights. 我们补偿了之前长途运输机的排放所带来的损害。