Codelco announced on March 24 that it has offset all CO₂ emissions associated with the green tax at its Ventanas Division by purchasing carbon certificates from the Los Cururos Wind Farm project, developed by AES Andes. This marks the first time Codelco has used this approach to address its taxed stationary source emissions.
The initiative is significant as it integrates climate action into both financial and operational management for the state-owned copper company. The process was conducted in accordance with current regulations and utilized a platform provided by the Ministry of the Environment, ensuring environmental integrity, traceability, and verifiable documentation for an auditable outcome. By selecting a national renewable energy project, Codelco aims to support lower-carbon production chains within Chile’s copper sector.
“Offsetting 100% of the emissions subject to the green tax is a clear sign of how we are integrating climate action, financial discipline, and governance into our decisions. It doesn’t replace our focus on structural reduction, but it does accelerate the path toward more sustainable mining,” said Gabriel Méndez, Vice President of Corporate Affairs and Sustainability at Codelco.
Mariana Soto, Vice President of Corporate Affairs and Sustainability at AES Andes, said: “At AES Andes, sustainability is an integral part of our culture and how we understand our role in the country’s development. Supporting Codelco with emissions reduction certificates promotes more efficient and competitive mining, reaffirming our commitment to operational excellence and our ability to anticipate their needs.”
According to Marcela Pantoja, Sustainability and External Affairs Manager for Ventanas Division: “For the Ventanas Division, this milestone represents a concrete step in integrating climate management with the territorial challenges of our operation. Offsetting emissions associated with the green tax complements the structural efforts we are promoting to move towards a more sustainable operation, focusing on improving environmental performance and a responsible relationship with the coastal environment where we operate.”
The company stated that offsetting forms part of its broader strategy for reducing structural emissions through energy efficiency measures outlined in its 2050 Decarbonization Roadmap. Participation in this mechanism also contributes to developing Chile’s market for carbon compensation projects.
