MINISTRY OF THE ENVIRONMENT, CHILE

This award is bestowed upon Chile's Ministry of Environment (MMA), recognised for its Leadership in the Carbon Tax to ETS Transition. Chile is highly commended for its strategic and progressive evolution in carbon pricing policy, demonstrating a clear and sophisticated pathway from a foundational carbon tax to the meticulous preparation of a comprehensive Emissions Trading System (ETS).

This significant transition includes the robust development of stringent greenhouse gas emission standards and the establishment of a sophisticated offset system. This system notably permits the judicious use of verified domestic emission reduction or removal certificates for compliance, albeit with a precisely defined limit, ensuring both flexibility and environmental integrity. The recent approval of the first eligible renewable energy offset projects marks a pivotal milestone, further solidifying the framework.

Furthermore, the establishment of the National Registry of Mitigation Actions (RENAMI) is a crucial step, designed to facilitate seamless scheme implementation and enable effective interaction with international mechanisms under Article 6 of the Paris Agreement. This demonstrates Chile’s adaptive and forward-looking approach to national decarbonisation, positioning it as a key innovator in climate policy implementation within Latin America and globally.