The Chilean President has enacted new environmental tax legislation making the country the first in South America to tax carbon dioxide (CO2) emissions.
Part of a broad tax reform, Chile's carbon tax will target the power sector, particularly generators operating thermal plants with installed capacity equal or larger than 50 megawatts (MW). These installations will be charged $5 per tonne of carbon dioxide (CO2) released. Thermal plants fueled by biomass and smaller installations will be exempt. Chile's government will start measuring carbon dioxide emissions from thermal power plants in 2017, with the objective of charging the new tax from 2018.
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