The Climate Change Law and green tax in Chile
Law 21455, also known as Chile's Climate Change Framework, is a law enacted in 2021 that establishes Chile's roadmap towards carbon neutrality by 2050. The law establishes a series of targets and measures to reduce greenhouse gas emissions and adapt to climate change.
The law's most prominent objectives include:
- The reduction of greenhouse gas emissions by 45% by 2030.
- Carbon neutrality by 2050.
- The promotion of renewable energies and the gradual elimination of fossil fuels.
- The protection of biodiversity and ecosystems.
To achieve these objectives, the law establishes a series of concrete measures, such as:
- The creation of a Climate Change Council in charge of coordinating the implementation of the law.
- The elaboration of action plans for climate change mitigation and adaptation at the national and regional levels.
- The promotion of energy efficiency and the reduction of energy consumption.
- Encouraging the use of public transport and reducing vehicle emissions.
- The promotion of the circular economy and responsible waste management.
In summary, Law 21455 is an important tool for Chile to face the challenge of climate change and contribute to the global fight against global warming.
Chile's Climate Change Framework Law 21,145 establishes the obligation that companies with annual net sales greater than 100,000 UF (approximately US$4 million) must measure and report their carbon footprint. This measure seeks to encourage the reduction of greenhouse gas emissions in the business sector and contribute to the country's climate objectives.
The carbon footprint is a measure of the amount of greenhouse gases emitted in the production of goods or services, and can include both direct and indirect emissions. Measuring the carbon footprint allows companies to identify the main sources of emissions and set reduction targets to improve their efficiency and sustainability.
Chile's Climate Change Framework Law 21.545 establishes a series of objectives and measures to address climate change and reduce greenhouse gas emissions in the country.
Regarding the reduction of the carbon footprint, the law establishes an emissions reduction target of at least 30% from 2007 levels by 2030, and at least 45% by 2040. It also establishes the creation of a national greenhouse gas emissions inventory system to monitor and report emissions in the country.
In relation to carbon taxes, the law establishes the creation of a tax on carbon dioxide (CO2) emissions from stationary sources, that is, emissions from industry, transportation and other stationary sectors. This tax will apply from 2025 and will be established through a carbon pricing system.
Revenues generated by this tax will be allocated to a fund to finance projects and programs that contribute to climate change mitigation and adaptation in the country.
It is important to note that the law establishes a series of measures and strategies to meet the objectives of reducing emissions and mitigating climate change, including the promotion of renewable energies, energy efficiency, sustainable mobility, sustainable waste management, among others.
Fuente: Law 21455 on Climate Change Framework.
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