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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.

• Panama Forest Protocol V1.0 Board Draft
• Panama Forest Protocol V1.0 Board Draft-Red-line- Comparison-Public Comment Draft

Public Comment Period

The draft Panama Forest Protocol is available for public review and comment below. Public comments are due by close of business on Friday, December 22, 2023. Please submit comments in Word or PDF format to [email protected]. Staff will respond in writing to all submitted comments and will provide a summary document here along with the original received comments after the close of the comment period.

• Panama Forest Protocol V1.0 – Draft for Public Comment (November 22, 2023) (English | Spanish)

Public Comment Webinar

The Reserve held a public webinar on December 5, 2023, to discuss the protocol and solicit public comments.

• Webinar recording (Spanish)
• Reserve presentation (English | Spanish)

Workgroup

The Panama Forest Protocol for Climate Action Reserve compensation credits will be 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.

Workgroup members are listed below:

Stakeholders not 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 it is available for public comment, and attend the public webinar(s) held during the public comment period.

Workgroup Meetings

Workgroup Meeting 9 – in Spanish
October 24, 2023

• Meeting recording (Spanish)
• Panama Forest Protocol – Workgroup Draft (English | Spanish)
• Notes and takeaways (English | Spanish)
• Reserve presentation (Spanish)

Workgroup Meeting 8 – in Spanish
June 30, 2023

• Meeting recording (Spanish)
• Reserve presentation (English | Spanish)
• Notes and takeaways (English | Spanish)

Workgroup Meeting 7 – in Spanish
June 8, 2023

• Meeting recording (Spanish)
• Reserve presentation (English | Spanish)
• Notes and takeaways (English | Spanish)

Workgroup Meeting 6 – in Spanish
May 18, 2023

• Meeting recording (Spanish)
• Reserve presentation (English | Spanish)
• Notes and takeaways (English | Spanish)

Workgroup Meeting 5 – in Spanish
May 4, 2023

• Meeting recording (Spanish)
• Reserve presentation (English | Spanish)
• Notes and takeaways (English | Spanish)

Workgroup Meeting 4 – in Spanish
April 19, 2023

• Meeting recording (Spanish)
• Reserve presentation (English | Spanish)
• Notes and takeaways (English | Spanish)

Workgroup Meeting 3 – in Spanish
April 5, 2023

• Meeting recording (Spanish)
• Reserve presentation (English | Spanish)
• Notes and takeaways (English | Spanish)

Workgroup Meeting 2 – in Spanish
March 15, 2023

• Meeting recording (Spanish)
• Notes and takeaways (English | Spanish)
• Reserve presentation (English | Spanish)

Workgroup Meeting 1 – in Spanish
March 2, 2023

• Meeting recording (Spanish)
• Notes and takeaways (English | Spanish)
• Reserve presentation (English | Spanish)

Kickoff Webinar

The Reserve held a public webinar on February 2, 2023, to kick-off the Panama Forest Protocol development process.

• Presentation Slides (English | Spanish)
• Webinar recording (Spanish)

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 | Spanish)

Development Timeline

The following timeline will be updated as the protocol development process unfolds.

Financial Support

Partial funding support for the development of the Panama Forest Protocol was provided by Ministerio de Ambiente de la República de Panamá (MiAMBIENTE) and the Latin American Development Bank (CAF).

Please contact the Reserve with questions or comments.