While China takes its first steps with its public emissions market, Chile is working on a change to the regulation of the so-called "green tax" that includes an emissions compensation instrument so that companies that must 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 regulation - which is in the process of public consultation until early September(https://consultasciudadanas.mma.gob.cl/portal/consulta/109) - would come into force in February 2023 and will open opportunities for the Bank of Emissions Offset Projects created by Sofofa in 2017 to promote and develop sustainable projects for companies. This emissions offsetting instrument provides the basis for Chile to insert itself into the transaction system being developed in the world under the Paris Agreement.

The "green tax" was created within the 2014 tax reform and came into effect in 2017. It affects both vehicles and fixed sources of emissions, the collection of which is accounted for separately. In the case of fixed sources, US$175.2 million was collected in 2020 and 95% corresponded to thermoelectric generation companies.