While China takes its first steps with its public emissions market, Chile is working on a change to the regulations governing the so-called "green tax," which includes an emissions compensation instrument so that companies that have to pay this tax can reduce their tax burden by financing sustainable projects developed in sectors not affected by the tax and that reduce polluting emissions. The new regulations, which are undergoing public consultation until early September (https://consultasciudadanas.mma.gob.cl/portal/consulta/109), would come into force in February 2023 and open up opportunities for the Emissions Offset Project Bank created by Sofofa in 2017 to promote and develop sustainable projects for companies. This emissions offset instrument provides the basis for Chile to join the trading system being developed worldwide under the Paris Agreement.

The "green tax" was created as part of the 2014 tax reform and came into effect in 2017. It affects both vehicles and stationary sources of emissions, with revenue collected separately. In the case of fixed sources, US$175.2 million was collected in 2020, with 95% coming from thermoelectric power generation companies.