Panama Forest Protocol for Offset Credits Development

(Para ver la página en Español, por favor cambie las opciones de idioma en la parte superior del sitio web)

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.

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.


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:

Bioforestal Innovación Sustentable
BRET Consultores
CO2 Cero
Comarca Ngäbe-Buglé
Congreso General Guna
Earthshot Labs
Ecotopia Teak
Fundación Natura
Futuro Forestal
Geo Forestal, S.A
Instituto Nacional de Investigaciones Forestales Agrícolas y Pecuarias
Latin American Development Bank (CAF)
Ministerio de Ambiente de la República de Panamá (MiAMBIENTE)
Ministry of the Environment of Quebec
Panama Teak & Forestry Inc
South Pole
Terra Global Capital
Universidad de Panamá
Universidad Tecnológica de Panama
Wetlands International
World Resources Institute

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

Workgroup Meeting 8 – in Spanish
June 30, 2023

Workgroup Meeting 7 – in Spanish
June 8, 2023

Workgroup Meeting 6 – in Spanish
May 18, 2023

Workgroup Meeting 5 – in Spanish
May 4, 2023

Workgroup Meeting 4 – in Spanish
April 19, 2023

Workgroup Meeting 3 – in Spanish
April 5, 2023

Workgroup Meeting 2 – in Spanish
March 15, 2023

Workgroup Meeting 1 – in Spanish
March 2, 2023

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:

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 February 2023
Workgroup meetings March – October 2023
Public comment period November 2023
Protocol presented to Reserve Board for approval TBD

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.