September 25, 2020. In May 2019, in Bogotá, a technical exchange was held between delegations from Chile and Colombia where experiences, challenges and lessons learned were shared in the design and implementation of the first carbon pricing instruments in each country. Processes such as the carbon tax in both countries and the compensation scheme as a complementary instrument were the topics of discussion.

In the case of Chile, this exchange contributed to strengthen the procedures of the Tax Modernization Law (Law 21.210) that modified the green taxes that had been in force since 2017, and incorporated compensation as an unprecedented instrument to complement them.

The main results of this exchange are presented in the document ‘Experience Spotlight: South-South Collaboration. Chile and Colombia Technical Exchange on Offsets’, available in the section of the website dedicated to the Technical Subgroup on MRV of the Pacific Alliance. This bilateral exchange is part of the work established in the SGT-MRV Coordination Framework, and contributed to strengthening institutional capacities in climate MRV systems in the countries of the Pacific Alliance. Both delegations remain in contact, exchanging information and good practices to improve their MRV systems.