CO2 emission reduction certificates

Company News    Jun 14, 2021 3:08 PM

Enel-Emgesa announced carbon certificates for the industrial sector.

The company will certify the reduction of CO2 emissions to promote the neutralization of greenhouse gases and contribute to the goal of reducing polluting emissions by 51% in 2030, La Republica reported.

The Ministry of Mines and Energy (MinEnergia) signed an agreement with companies to see that the electricity sector halves its emissions and becomes carbon neutral by 2050, and Enel Colombia is part of this agreement.

The Greenhouse Gas Emission Reduction Certificates or Carbon Credits are market instruments that allow transactions through the implementation of renewable projects.

It is important to remember that Law 1819 of 2016 obliges industries that use fuels such as Gasoline, Kerosene, Jet Fuel, diesel, Fuel Oil and in some cases natural gas and propane, to pay the National Carbon Tax.

As of February 1st, 2021, the DIAN established that the carbon tax rate corresponds to CoP$17,660 per ton of CO2.

Enel-Emgesa’s carbon certificates can be used by fuel-consuming companies. Thus, they will be able to access the tax exemption mechanism in accordance with Decree 926 of 2017.

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