Panama Forest Protocol Development

The Climate Action Reserve is developing a Forest Protocol for Panama 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 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

Please join the Reserve for a public webinar to kick off the Panama Forest Protocol development process.

Panama Forest Protocol kickoff webinar
Wednesday, December 14
8:00 am – 10:00 am PT / 11:00 am – 1:00 pm ET ‎(UTC-5)
Register here

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] by December 19, 2022, to help ensure that you receive the appropriate notifications for public engagement opportunities during protocol development:

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] by December 19, 2022.

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

TBD

Development Timeline

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

Protocol kickoff webinar December 14, 2022
Workgroup SOIs due December 19, 2022
Formation of workgroup December 23, 2022
Reserve staff begins to draft the protocol December 2022
First workgroup meeting January 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.