The Climate Action Reserve is developing a Panama Forest Protocol for Offset Credits that will focus on the crediting of activities that sequester CO2e from the atmosphere through increasing carbon stocks in trees over time.
The Panama Forest Protocol for Offset Credits will provide project-level eligibility rules, baseline, social and environmental safeguards, methods to calculate net removals of CO2 from the atmosphere due to sequestration activities, procedures to address and compensate for the release of CO2 back to the atmosphere, and measurement, reporting, and verification (MRV) requirements.
Kickoff Webinar
The Reserve held a public webinar on February 2, 2023, to kick-off the Panama Forest Protocol development process.
Local Engagement
The Reserve is seeking interested stakeholders to participate in engagement opportunities to identify and incorporate applicable laws, norms, and conditions from Panama as well as specific improvements and changes to ensure the successful adaptation of the Mexico Forest Protocol to Panama. All stakeholders interested in the protocol process, please complete the following Local Engagement form below and submit it to [email protected] to help ensure that you receive the appropriate notifications for public engagement opportunities during protocol development:
- Local Engagement form (English)
- Local Engagement form (Español)
Workgroup
The Forest Protocol is being developed through the Reserve’s multi-stakeholder workgroup process. The Reserve strives to create a well-balanced workgroup consisting of industry representatives, project developers, environmental NGOs, verification bodies, independent consultants, academia, and government bodies. Interested stakeholders are encouraged to apply by filling out the Statement of Interest (SOI) form below and submitting it to [email protected].
- Statement of Interest form (English)
- Statement of Interest form (Español)
Workgroup member organizations will be listed below.
Stakeholders not chosen to be part of the workgroup are encouraged to participate in the process as “observers.” Observers may attend workgroup meetings in listen-only mode, submit written comments on the draft methodology when available for public comment, and attend the public webinar held during the public comment period.
Workgroup Meetings
February-May 2023
Development Timeline
The following timeline will be updated as the protocol development process unfolds.
| Protocol kickoff webinar |
Thursday, February 2, 2023
|
| Workgroup SOIs due |
Friday, February 10, 2023
|
| Formation of workgroup | February 2023 |
| Reserve staff begins to draft the protocol | Winter 2023 |
| First workgroup meeting | Winter 2023 |
| Second workgroup meeting | Winter 2023 |
| Third workgroup meeting | Winter 2023 |
| Public comment period | Summer 2023 |
| Protocol presented to Reserve Board for approval | Fall 2023 |
Funding
Funding support for the development of the Panama Forest Protocol is provided by Ministerio de Medio Ambiente de Panama (Miambiente) and the Latin American Development Bank (CAF).
Please contact the Reserve with questions or comments.
