Oh yes, I would certainly consider funding such projects to be entirely a good thing, both from an environmental and a developmental viewpoint. What I'd be not so sure of is whether one can have any degree of confidence in any estimate of the magintude of net long-term reduction of emmisions resulting from the project compared to the baseline.

Which is not to say that offseting is not a good idea, rather that ultimately it needs to be combined with a global C&C-based capping agreement. But I imagine you'd probably agree on that.