Eight Panamanian projects have been authorized by a UN commission to sell carbon credits on global markets and there are 24 initiatives in the evaluation phase.
Monday, April 16, 2012
The Executive Board of Clean Development Mechanisms of the United Nations Convention Framework on Climate Change, is the body which has authorized eight projects established in Panama to sell carbon credits on the international market.
Another 24 projects are being evaluated, said Cynthia Deville, from the Technical Unit for Climate Change and Desertification of the National Environmental Authority (ANAM). The Panamanian projects represent thousands of tons of CO2 equivalent, ranging from 10 tons to over 300 thousand tons, depending on the type of activity, according to ANAM.
Some companies offer on a voluntary basis between 20% and 30% of annual net sale of credits for the benefit of the community where the project is developed.
Panamaamerica.com.pa published a list of projects which have already been approved:
In 2005 the Algarrobos hydroelectric station was authorized , with 37,213 tons of CO2 equivalent, the hydropower project Dolega, with 12,167 tons of CO2e, the Macho de Monte hydropower project, with about 10, 963 tons of CO2e. Each of these are in the province of Chiriqui.
In 2006 the hydropower station Conception, with an emission of 36,126 tons of CO2e. In 2007, the hydroelectric project in Paso Ancho, 22,233 tons of CO2e. In 2009, wind farm Santa Fe, 172, 877 CO2e.
And in 2011 two projects were added: Barro Blanco with 66,934 tons of CO2e and CEMEX Panama, with an alternative fuels program, with 29, 212 tons of CO2e.
The harsh reality has forced a landmark in environmental topics, the postponement of the date for achieving its goal of carbon neutrality, abandoing the impossible target of 2021 replacing it with sometime between 2050 and 2100.
Recognizing the impracticality of trying to meet such an ambitious goal as the one initially proposed, the government is preparing a new official plan to be presented later this month, with effect from 2020 and which includes new targets.
Having certified 2,400 acres of the canal basin and invested $19 million since 2009, the Panama Canal Authority is negotiating with companies interested in purchasing the credits.
In order to recover the investment made in the certification of 2,400 carbon free hectares of canal basin, the Panama Canal Authority (ACP) will be issuing carbon credits, which may be purchased by companies seeking to minimize the impact of their carbon footprint.
Nine small hydroelectric stations to be built in Guatemala will be funded in part with carbon credits.
Elperiodico.com.gt reports that "carbon credits will be an alternative source of funding for nine small hydro stations to be built between 2013 and 2014, and which have already been registered under the Clean Development Mechanism (CDM) of the United Nations (UN). "
Co-organized by the National Authority on the Environment, the event will be held in the El Panama Hotel from the 24th to the 26th.
The general objective of the Latin-American Forum on Carbon (FLAC) is to bring together all the actors of the carbon market: project owners and developers; the National Offices for the Clean Development Mechanism (CDM), Investment Promotion Agencies; Appointed National Authorities (DNAs); intermediary businesses; and corporate service providers. The purposes of the event include sharing experiences regarding the comprehensive processes for CDM projects, understanding the business mechanisms of emissions and the future of the CDM, analyzing national and international politics regarding mitigation and adaptation to climatic change, and facilitating negotiations regarding emissions.
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