In February 2020, a Tax Modernization Law (Law 21,210) was approved in Chile which modified the green taxes that originally went into force in 2017 (Law 20,899) by incorporating offsets as an unprecedented instrument. Colombia, meanwhile, passed a tax reform in 2016, which included a carbon tax and offsets. As part of the work of the Pacific Alliance’s Technical Subgroup on MRV (SGT-MRV) and it’s Coordinating Framework, Environmental and Climate Change Canada (ECCC) supported a South-South technical exchange between delegations from Chile and Colombia that took place in May 2019 in Bogota, Colombia. The aim of this exchange was to share experiences, challenges and lessons learned in the design and implementation of both country’s first green taxes and, in particular, to present the Chilean delegation with the lessons learned by Colombia from implementing offsets, in order to provide guidelines for a potential design in Chile. Since the meeting in Bogota, the two delegations continue to exchange experiences and information; which is particularly important for Chile in its process of designing and implementing an offset system.