Uruguay implemented its CO2 tax on January 1, 2022, with a rate of YUY6,373 (US$167.17) per tonne, targeting CO2 emissions from gasoline. This tax was established to replace part of the existing fuel excise charges through the Specific Internal Tax (IMESI) and is adjusted annually based on the Consumer Price Index and CO2 emissions intensity. The law aims to finance initiatives for reducing greenhouse gas emissions, promoting sustainable transportation, and enhancing climate resilience. A new rate is set for 2024 at YUY6,373 (US$163.23) per tonne.