Data and Insights: Chile

VCS Quarterly Update

ISSUE #3 - Q1/2021
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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.

Main Takeaways

ARR dominance

All VCUs issued in Q1/2021 came from Afforestation, Reforestation and Revegetation (ARR) projects.

Retirements increase drastically

In Q1/2021, 17,072 VCUs were retired, compared to just 3,199 in Q4/2020, a 530% increase.

VCS Data and Insights: Chile - Q1/2021
PROJECTS
This chart includes cumulative data about VCS projects in Chile.
Project Total
Registration Requested 0
Rejected by Administrator 1
Registered 24
Project Types
Agriculture Forestry and Other Land Use
Energy
Waste
Project Total
Agriculture Forestry and Other Land Use 3
Energy 20
Waste 2
*Agriculture, Forestry, and Land Use
5,311,662 Expected Annual Reductions from All Projects in Chile
Summary Totals to Date
VCU Issuances* (Total to Date)

*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

613,230,612
VCUs Globally (& Equivalent)
132,484,530
cars taken off the road
for a year
1,538,339 VCUs from Projects in Chile
VCU Issuances by Year
*The Chilean carbon tax was implemented in 2017
**as of 31 March 2021
VCU Issuances by Project Type
AFOLU*
Energy
Waste
Project Type VCUs
AFOLU* 549,622
Energy 985,801
Waste 28,916
*Agriculture, Forestry, and Land Use
Retirements
VCUs that have been purchased and taken off the market forever; a retired VCU represents a carbon offset.
884,237 VCUs
191,034
cars taken off the road
for a year