Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, how much revenue his Department expects to raise annually from the inclusion of domestic maritime in the UK Emissions Trading Scheme; and what proportion of that revenue will be recycled into maritime decarbonisation projects.

The Government’s Impact Assessment estimates that bringing domestic maritime into the United Kingdom Emissions Trading Scheme will increase allowance purchasing revenue by around £1.9 billion over the 20year appraisal period, averaging approximately £95 million a year.

Receipts from the United Kingdom Emissions Trading Scheme support the Government’s wider priorities, including spending that helps deliver the transition to net zero.

The Government recognises that decarbonising the maritime sector requires a suite of policies, and continues to provide funding, guidance and policy support to facilitate the uptake of cleaner technologies across the sector.