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The article begins with an examination of the economic instruments that, according to the doctrine, should be part of climate policies, some of which have been created in Chile, such as the green tax and others in the process of being studied, such as the emissions markets. It addresses the legal foundations of these tools in climate contexts and reviews the climate architecture to characterize it briefly based on the main adaptation and mitigation measures that are part of this environment. It examines the most well-known emissions market, the European (European Union Emissions Trading System, EU ETS); to concentrate on this mechanism in order to consider the main challenges that Chile faces in order to implement them and make recommendations on legal regulation of how it should be incorporated into the Chilean reality. [ABSTRACT FROM AUTHOR]