MiAMBIENTE and the Climate Action Reserve enter strategic collaboration to support strong development of Panama’s national carbon market

January 12, 2023

Alliance recognizes the Reserve as one of the most relevant and internationally recognized global offset registries

ANCÓN, PANAMÁ / LOS ANGELES, CA – The Ministry of the Environment of the Republic of Panama (MiAMBIENTE) and the Climate Action Reserve have entered a strategic collaboration to support the strong and successful development of a National Carbon Market in Panama. MiAMBIENTE selected the Reserve to collaborate with due to the organization’s status as one of the most relevant and internationally recognized offset registries.

“With these strategic alliances, MiAMBIENTE strengthens the capacities of the technical team that designs, implements and communicates national and international investment opportunities and project generation under the National Carbon Market,” said the National Director of Climate Change of the Ministry of Environment of Panama, Ligia Castro de Doens. 

Through the strategic collaboration, MiAMBIENTE and the Reserve will partner on two initiatives. One is the development of a forest protocol specifically for forests and local communities in Panama that will be supported by the government for use in the country’s voluntary carbon market. The protocol will be modeled off the Reserve’s Mexico Forest Protocol, which currently is being used by roughly 200 ejidos and local communities and has generated social, economic and environmental benefits for those communities. The strong engagement from communities and local and national trust in the Reserve program are key components in the success and growth of projects developed under the Mexico Forest Protocol, which the Reserve and MiAMBIENTE hope to replicate by partnering together in creating a forest protocol for Panama.

The second strategic initiative will take place under a Memorandum of Understanding (MOU) signed by MiAMBIENTE and the Reserve. Under this partnership, the two will work together to develop Panama’s National Carbon Market. Reserve staff members will train members of the Ministry of Environment’s technical team on the organization’s program and specific protocols to be used in the National Greenhouse Gas Compensation System of Panama.

“It is a tremendous honor to be selected for such an important collaboration with MiAMBIENTE. Panama is strategically building the foundation for a strong National Carbon Market that will support the country’s local communities and also the country’s climate change goals. The work and success the Climate Action Reserve has experienced from its partnerships in Mexico were key to Panama choosing to work with us, and we are excited to work jointly with their team to achieve similar successes there,” said Craig Ebert, President of the Climate Action Reserve.

The Climate Action Reserve is the most trusted, efficient, and experienced offset registry for global carbon markets. A pioneer in carbon accounting, the Reserve promotes and fosters the reduction of greenhouse gas (GHG) emissions through credible market-based policies and solutions. As a high quality offset registry for voluntary carbon markets, it establishes rigorous standards and issues carbon credits under those standards. The Reserve also supports compliance carbon markets and serves as an approved Offset Project Registry for the State of California’s Cap-and-Trade Program. The Reserve is an environmental nonprofit organization headquartered in Los Angeles, California with satellite offices around the world. For more information, please visit www.climateactionreserve.org.


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