All of these process have the same basis and principles and compliment each other on the long run.
Step-by-step explanation:
The carbon offsetting is a process that is focused on the reduction of the carbon emissions. The reduction is supposed to be done by the developed countries, while the less developed countries can continue with their development, thus it should create some kind of balance.
The Cap and Trade is a process through which the companies are stimulated by the governments to reduce their carbon emissions and to invest in clean energy sources. This basically is a process that follows up the carbon offsetting, with the companies from the developed countries being stimulated to develop better alternatives, while the companies from the less developed countries should continue with the emissions and develop until new technologies are developed and provided to them.
The development of the more developed and less developed countries will be more sustainable if better alternatives are used, as the resources will not be limited but they will constantly be available, but also will not cause big pollution. This will also contribute to the less developed countries picking up and closing in economically on the more developed countries.