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Taxation of Carbon Credits

Kevin Cummings and David Quentin, associates at Allen & Overy LLP, describe key issues in the taxation of carbon credits

 
Kevin Cummings and David Quentin associates at Allen & Overy LLP describe key issues in the taxation of carbon credits
 
Hot on the heels of the Stern report indicating the catastrophic economic consequences of climate change the World Bank review of the state of the carbon market trumpets London's position as the leading location for international carbon trading. With $22 billion of carbon traded in the first three quarters of this year this is a serious matter for corporates bound by the EU Emissions Trading Scheme and potentially big business for the speculator. It is also potentially big business for HMRC.
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