COVID-19 overshadowed Chile’s economy in the early part of 2021, and historically, the domestic carbon market reaches a low point at the start of the year. Despite these factors, however, 26,000 VCUs were issued, putting total domestic issuances on track in 2021 to exceed 2020 levels.
In addition, carbon pricing instruments are gaining momentum in the country’s legislative system.
All VCUs issued in Q1/2021 came from Afforestation, Reforestation and Revegetation (ARR) projects.
In Q1/2021, 17,072 VCUs were retired, compared to just 3,199 in Q4/2020, a 530% increase.
|Rejected by Administrator||1|
|Agriculture Forestry and Other Land Use||3|
*One VCU represents one tonne of carbon dioxide equivalent that was removed from the atmosphere or not emitted.
Greenhouse gas equivalencies for emission reductions and removals were calculated using the EPA Greenhouse Gas Equivalencies Calculator