Panama is developing a national plan to decarbonize its maritime sector as part of its commitment to International Maritime Organization (IMO) standards.
The announcement was made by Alexander De Gracia, Acting Administrator of the Panama Maritime Authority (PMA), during a meeting with an EU-appointed consultant who will provide technical support.
“In the next five months, we expect to have a draft action plan ready so we can begin execution as soon as possible. But we need the collaboration of many players across the industry,” said De Gracia.
The plan will be incorporated into Panama’s National Maritime Strategy and seeks to establish the regulatory framework to attract international investment in alternative fuels.
Arthur James, External Consultant for the EU Delegation in Panama, stated: “This will give us a baseline and a clear diagnosis of the country’s current standing. We’ll be able to identify what needs to be done, where we’re heading, and which tools we need to honor international commitments.”
According to the provided information, maritime transport carries over 80% of global trade and generates about 3% of worldwide greenhouse gas emissions. If treated as a country, the sector would be the sixth-largest emitter.
As a member of the IMO and host of the world’s largest ship registry, Panama is expected to contribute to global emission-reduction targets.
The main goal, adopted in 2023, is to reach net-zero greenhouse gas emissions in international shipping by 2050.
Decarbonization requires a reduction of vessel emissions and a transition toward cleaner fuels and green technologies.
Panama Maritime Authority (PMA is a government entity responsible for regulating maritime activities in Panama, including ship registration, port operations, and maritime safety.