This law impulses low-carbon development through the establishment of goals and measures in order to reach carbon neutrality and resilience. It sets accountability mechanisms, defines pillars to enable the transition, and sets a range of economy-wide and sectoral mitigation and adaptation targets and other measures. According to a World Bank report, the law establishes that, beginning in 2023, half of carbon tax revenues will be used in "costal erosion management, conversation of water sources, and the protection of ecosystems", amongst other measures. The other half of tax revenues "will be used for financing the Program for the Substitution of Illicit Use Crops (Programa Nacional Integral de Sustitución de Cultivos de Uso Ilícito)".

​The summary of this document was written by researchers at the Grantham Research Institute for the Climate Change Laws of the World database, available at climate-laws.org

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