Verra, a leading certification body, and Panama's Ministry of Environment (MiAMBIENTE) have signed a Memorandum of Understanding (MOU) to develop a national carbon market in Panama. The MOU aims to simplify the certification process for local projects under Verra's Verified Carbon Standard (VCS) Program while complying with local regulations.
The agreement also includes training activities about VCS Program methodologies, the VCS Jurisdictional and Nested REDD+ Framework, and the Verra Registry. These training sessions target Panama government representatives designing national carbon pricing instruments. However, future training may address the interests of project proponents and developers, prospective validation/verification bodies, buyers, retailers, and traders.
The MOU falls within the framework of Panama's National Greenhouse Gas Compensation System, supporting the country's nationally determined contribution towards sustainable development. Verra's Chief Executive Officer, David Antonioli, sees this agreement as an essential milestone in advancing global climate action and sustainable development.
Read more: The roots of a sustainable future: integrating trees into a circular economy
The minister of environment has signed four memorandums to establish strategic cooperation alliances. Other institutions that signed similar documents include Climate Action Reserve (CAR) and Fundación Plan Vivo. As the country progresses towards establishing the National Carbon Market, there are plans to create additional MOUs with other relevant stakeholders to enhance this national initiative's effectiveness.
It is encouraging to see global action towards achieving collective environmental goals. Only through private-public collaborations and frameworks including all relevant stakeholders, can we effect real, long-lasting change for the environment. At DGB Group, we are dedicated to transparency and healthy collaboration structures to ensure the success of our large-scale nature-based projects. We work with governments, certification agencies, local communities, and other stakeholders to ensure we have a positive effect on the environment and contribute to a sustainable future for all.
Contact our experts to learn how you can be part of the change
