Panama is moving full steam ahead with the development of a national plan to decarbonize its maritime sector, the Panama Maritime Authority (PMA) said.
The Central American country has reiterated its commitment to meeting the standards set by the International Maritime Organization (IMO).
“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,” Alexander De Gracia , Acting Administrator of MPA, announced during a meeting with the European Union–appointed consultant who will provide technical support for the proposal.
As explained, the plan will be integrated into Panama’s National Maritime Strategy and aims to create “the right conditions and regulatory framework to position the country as an attractive hub for international investment in alternative fuels “ —one of the core pillars of the project.
“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,” Arthur James , External Consultant for the EU delegation in Panama, stressed the importance of this technical assistance.
As an IMO member state and home to the world’s largest ship registry, Panama is expected to deliver on global emissions-reduction targets. The central goal, adopted in 2023, is to achieve net-zero greenhouse gas emissions in international shipping by 2050.
Decarbonizing the maritime sector means cutting emissions from vessels and accelerating the shift toward cleaner fuels and innovative green technologies. These efforts are said to be critical to mitigating the impacts of carbon pollution, which manifest in climate change, ecosystem degradation, and ocean acidification driven by rising carbon dioxide levels, trends that have fueled a steady increase in global temperatures.