
New Paper: Colombia’s Carbon Market Revolutionizing Rural Development
As part of Colombia’s tax reform, the country passed a carbon fuel tax on December 29, 2016 to encourage compliance with their greenhouse gas mitigation goals. Colombia’s Nationally Determined Contribution (NDC), committed under the Paris Agreement, is a 20% reduction in emissions by 2030. This carbon tax supports this and is based on the carbon content of each fuel distributed and includes all petroleum products and natural gas used for combustion (other than coal).