Codelco Completes First Carbon Credit Purchase to Offset Green Tax Emissions via AES Andes Wind Project

Codelco, the world’s leading copper producer, acquired carbon credits linked to AES Andes’ Los Cururos Wind Farm, compensating 100% of the CO₂ emissions from fixed sources subject to the green tax at its Ventanas copper refinery. The transaction was conducted under Chilean environmental regulations through the Ministry of Environment’s authorized platform, ensuring environmental integrity, traceability, and robust auditability. By selecting a national renewable energy project, Codelco also advances local low-carbon industrial linkages within the copper value chain. Gabriel Méndez, Codelco’s Vice President of Corporate Affairs and Sustainability, emphasized that while compensation does not replace structural emission reductions, it expedites the company’s progress toward sustainable mining by combining climate action with financial discipline and governance.

AES Andes highlighted this collaboration as aligned with its sustainability culture and commitment to operational excellence and client needs anticipation. Mariana Soto, AES Andes’ VP of Corporate Affairs and Sustainability, reinforced the role of renewable energy-based carbon certificates in driving mining efficiency and competitiveness.

This carbon credit purchase supplements Codelco’s core decarbonization strategy outlined in its 2050 Decarbonization Roadmap, which prioritizes energy efficiency, innovation, and operational transformation aligned with international standards. The credits also optimize the financial impact of the green tax, preserving economic efficiency while maximizing state contributions.

Marcela Pantoja, Sustainability and External Affairs Manager at Ventanas, noted the significance of integrating climate management with local operational challenges, underscoring ongoing efforts to improve environmental performance and coastal stewardship. Furthermore, Codelco’s demand signal supports the expansion and strengthening of Chile’s nascent carbon offset ecosystem by encouraging project development and market growth. The company plans to explore replicating this compensation mechanism in 2026, aligning its mining operations with global energy transition imperatives.