Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of making voluntary emissions reduction certificates tax deductible.

The Government recognises that for the UK to reach net zero emissions in 2050, removing emissions, or greenhouse gas removals will be necessary to offset residual emissions in hard-to-abate sectors, as advised by the Climate Change Committee.

To deepen our evidence base on greenhouse gas removals and the existing market for voluntary emissions removals, and to support future policy development, BEIS and HM Treasury launched a Call for Evidence on Greenhouse Gas Removals in December last year. This Call for Evidence sought views from stakeholders on the role of Government in incentivising their development and deployment, including the role of tax incentives. A summary of responses to this Call for Evidence will be published in due course.