Colombia’s Carbon Tax Takes Off
April 21, 2018
Business Group and Communities of the Colombian Pacific, Represented by Fondo Acción, Sign Contract for the Purchase of Carbon Certificates
Agreement Reflects Commitment of Ethnic Communities, Non-Governmental Organizations (NGOs) and Private Companies Towards Conservation, Climate Change Mitigation, Sustainable Development and Peace-Building
BOGOTÁ, Colombia (April 21, 2018) – The carbon tax, included in the most recent tax reform, opened the doors for companies to neutralize the CO2 emissions associated with their fossil fuel consumption through the purchase of certificates of carbon generated by projects for Reducing Emissions from Deforestation and Forest Degradation (REDD+).
Today, the Prodeco Group took this opportunity and signed its first purchase-sale contract of carbon certificates from nine REDD + community projects in the Colombian Pacific, all of them represented by Fondo Acción, which is consolidated as an umbrella organization for the development of community
REDD + projects in Colombia
This agreement will benefit more than 10,000 families through sustainable, productive alternatives and green jobs, allowing the conservation of the fragile and highly biodiverse forests of this region.
Colombia is a pioneer in the world for the creation of a set of taxes and tax benefits that allow the country to meet its environmental goals, ensure the protection of forests and contribute to the development of rural communities.
The new carbon neutrality regulations represent a great opportunity for the forests of Colombia, allowing the country to meet its environmental goals, ensure the protection of ecosystems and contribute to the development of rural communities. As part of its sustainability strategy, Prodeco is exploring, with USAID, Conservation International and others, the possibility of going beyond the Pacific region to structure and develop projects of this type.
Conservation International planned and led all contact between Prodeco and Fondo Acción in this effort.
“Fondo Acción has been our ally for many years now, Prodeco is our new ally. The project was formulated with the support of USAID. As soon as the carbon tax started, and the carbon neutrality opportunity came out, we set out to search among our allies for the BioREDD Pacífico project (one of the few that were ready) and it piqued Prodeco’s interest,” said Fabio Arjona, Director of Conservation International-Colombia.
About Conservation International
Conservation International uses science, policy and partnerships to protect the nature people rely on for food, fresh water and livelihoods. Founded in 1987, Conservation International works in more than 30 countries on six continents to ensure a healthy, prosperous planet that supports us all. Learn more about Conservation International and its groundbreaking “Nature Is Speaking” campaign, and follow Conservation International’s work on Facebook, Twitter, Instagram and YouTube.