Chile Projects $6 Billion Investment Through Paris Agreement's Article 6
Chile anticipates attracting approximately $6 billion in investment through Article 6 of the Paris Agreement in the coming years, according to an estimate from the Ministry of Environment. This projection was cited by Cristian Mosella, co-founder and CEO of Chilean carbon project developer EnergyLab, at the Chile Carbon Forum in Santiago. This new figure significantly updates a previous estimate of $1.4 billion mobilized through Article 6.2 as of January. Chile has already established a bilateral agreement with Switzerland and is in discussions with Japan for its Joint Crediting Mechanism (JCM) and with Singapore. The country expects to issue around 17 or 18 Letters of Authorisation (LoAs) for Article 6.2 carbon projects by the end of 2026, facilitating international credit sales and supporting national climate targets. Projects under the agreement with Switzerland involve technology-based activities, while Japan has financed renewable energy projects. Singapore could provide an avenue for Chile to incorpo...