Multinational groups are increasingly likely to use voluntary carbon credits as part of their efforts to decarbonise their businesses and achieve their climate goals. There are a number of tax complexities and risks depending on how voluntary carbon credits are going to be acquired and used by companies and further guidance from HMRC would be welcomed, particularly as the market grows and becomes more regulated. Where multinational groups are taking a strategic approach to their offset activity, tax functions should play an active role in design and implementing structured arrangements.
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Multinational groups are increasingly likely to use voluntary carbon credits as part of their efforts to decarbonise their businesses and achieve their climate goals. There are a number of tax complexities and risks depending on how voluntary carbon credits are going to be acquired and used by companies and further guidance from HMRC would be welcomed, particularly as the market grows and becomes more regulated. Where multinational groups are taking a strategic approach to their offset activity, tax functions should play an active role in design and implementing structured arrangements.
If you are not a subscriber, subscribe now to read this content.
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