UK businesses backed to trade carbon credits

The UK Government said businesses and organisations will be better supported to trade carbon credits under new plans.

It has announced moves to strengthen voluntary carbon and nature markets which it said can help leverage the finance needed to address the climate emergency whilst diversifying revenue streams for British businesses.

The Government said such markets support the trading of carbon credits, where a business can reduce their emissions by investing in environmentally friendly projects such as deploying electric vehicles, reducing deforestation, removing carbon dioxide through carbon dioxide or planting trees.

“There have been widespread calls from businesses and organisations for greater clarity in how to use these markets as part of their plans to reach net zero,” it said.

“In response, the UK is establishing a global framework to build trust and confidence in carbon and nature credit trading, with a set of principles to guide and support businesses on how to use carbon credits that provide environmental benefits.”