Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, whether he is considering establishing a formal UK–Brazil Green Trade Corridor to support legal certainty for environmental credit investments.

HMG recognises the importance of Green Corridors in demonstrating clean maritime technologies and laying the foundation for widespread decarbonisation. We are focussed on delivering this change through the International Maritime Organization and domestic action as set out in the Maritime Decarbonisation Strategy. In doing so, we expect this to incentivise and support industry to deliver Green Corridors from the UK and globally. Brazil is an important partner on climate and decarbonisation: we have several bilateral initiatives on green finance, some of which sit under the UK PACT (Partnering for Accelerated Climate Transitions) programme.