The Economic Commission for Latin America and the Caribbean (ECLAC), within the framework of the Euroclima programme of the European Union, and the Ministry of Social Development and Family (MDSF) carried out the training course on methodologies for the estimation of the Social Price of Carbon, which focused on strengthening the technical capacities of the teams that are part of the National Public Investment System (SNIP) in the estimation and updating of the Social Price of Carbon.
In the context of the triple planetary crisis (climate change, pollution and biodiversity loss), the course is a key instrument for the technical and professional teams of the ministries involved in the formulation and evaluation of public investment projects, seeking to internalize the social cost of carbon emissions in public investment decisions in Chile. The application of the social price of carbon in the public investment evaluation process helps to discriminate between high and low carbon investments, thus aligning the use of the public budget with the national and global climate commitments established within the framework of the Paris Agreement.
The course was developed in theoretical and practical sections that addressed both conceptual and methodological aspects of calculating the social price of carbon. In addition to strengthening the technical capacities of officials from the Social Investment Evaluation Division of the MDSF, together with the teams from the Ministries of Energy, Environment and Finance in estimating the Social Price of Carbon, it was possible to review previous work in the region and identify and learn about the technological needs for the use and application of calculation methodologies.
The course was held within the framework of the regional initiative Social Price of Carbon in the Evaluation of Public Investment in Latin America and the Caribbean implemented by ECLAC within the framework of the EUROCLIMA Programme in support of the National Public Investment Systems of the region. At the end of the training, a strategic session was held to share conclusions, resolve concerns and establish the next steps to follow in the implementation of these methodologies in the evaluation of public investment projects in Chile and the region. This course marked a milestone in strengthening technical capacities to effectively address climate change and promote more sustainable investments and thus advance towards sustainable, more inclusive and fair development for Latin America and the Caribbean.
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