Nature of the action Description and objective Spatial coverage, Sectors and GHG contemplated Objectives and quantitative goal Indicators Methodologies and Assumptions Measures adopted or planned to achieve this action Implementation progress Results obtained Economic instrument Tax on the carbon content of fossil fuels that are used for energy purposes, provided that they are used for combustion, and that its purpose is to internalize the social costs associated with climate change and generate local co-benefits such as increases in efficiency and sectoral productivity and improvements in air quality. Its objective is to promote the efficient use of fossil fuels, the use of low-carbon primary energies and the reduction of high-carbon energy consumption in all sectors of the economy. It was created by means of Law 1819 of 2016 within the framework of the structural tax reform that took place in that year, with a rate of USD 5 dollars per ton of CD, issued, a rate that will increase annually based on the inflation plus one point, until reaching the value of one Tax Value Unit-UVT- All sectors of the Colombian economy. IPCC Sectors: 1A-Burning of fossil fuels CO, CH, N,D National coverage According to the simulations developed by the National Planning Department-DNP-, the tax would contribute to the reduction of 4.3 million tons of CO., in the period 2017-2030, which corresponds to 7% of the Nationally Determined Contribution-NDC- (Romero, 2017) The tax should raise about 600 billion in its first year of implementation. Tons of CD, reduced by changes in consumption patterns of taxed fossil fuels, based on simulation exercises for the period 2017-2030(3) Millions of pesos collected. The emission reduction projections due to the carbon tax were modeled based on the decrease in the consumption of fossil fuels taxed by the tax when presenting changes in the observed fuel consumption patterns, from a scenario without a tax versus a scenario with tax. Approval by the Congress of the Republic of Law 1819 of 2016 (Tax Reform). Within the framework of the coordination of policies for GHG mitigation, the development of the National Program of Tradable Quotas for GHG Emissions (PNCTE) is contemplated. The implementation of this instrument will depend on the political will and the strengthening of national capacities to achieve its implementation