Panama

Not expressed in NDC.

[machine trans­lated] The Gov­ern­ment of Panama is imple­ment­ing, in a pilot phase, its nation­al car­bon mar­ket. Both pro­jects under this mar­ket and those developed pur­su­ant to the Art­icle 6 decision book will employ a uni­fied registry and track­ing mech­an­ism to ensure con­sist­ency between mech­an­isms, as well as envir­on­ment­al integ­rity and trans­ac­tion trans­par­ency. The nation­al mar­ket will pri­or­it­ize, among oth­er things, the use of Mit­ig­a­tion Con­tri­bu­tion Units (MCUs), developed pur­su­ant to the Rules, Pro­ced­ures, and Mod­al­it­ies (RPMs) of Art­icle 6.4, incor­por­at­ing envir­on­ment­al and human rights safe­guards, pro­mot­ing effect­ive par­ti­cip­a­tion, and ensur­ing high stand­ards of trans­par­ency and envir­on­ment­al integ­rity. Panama recog­nizes the poten­tial of cooper­at­ive approaches to mobil­ize timely invest­ments, accel­er­ate its trans­ition to resi­li­ent, low-emis­sion devel­op­ment, and con­trib­ute to glob­al cli­mate action. In this con­text, the coun­try will con­sider the use of ITMOs, provided they are tech­nic­ally eval­u­ated and have pri­or author­iz­a­tion from the Nation­al Gov­ern­ment, under applic­able reg­u­la­tions, wheth­er exist­ing or under devel­op­ment. These trans­fers will be sub­ject to the guidelines of Art­icle 6.2, in accord­ance with decisions adop­ted by the CMA. In this pro­cess, it will be essen­tial to ensure respect for the rights of Indi­gen­ous Peoples and Afro-des­cend­ant and loc­al com­munit­ies, includ­ing the recog­ni­tion of ter­rit­ori­al rights, the applic­a­tion of stand­ards of free, pri­or, and informed con­sulta­tion, the fair and equit­able dis­tri­bu­tion of bene­fits, the estab­lish­ment of impact assess­ments and access­ible griev­ance pro­ced­ures, as well as trans­par­ency and par­ti­cip­a­tion meas­ures in pro­ject mon­it­or­ing. Fur­ther­more, Panama will pri­or­it­ize the use of Art­icle 6.8 as a key instru­ment to strengthen non-mar­ket-based cooper­a­tion, with an emphas­is on sup­port­ing the energy trans­ition and nation­al pri­or­it­ies in adapt­a­tion and resi­li­ence. This com­pre­hens­ive approach will allow the coun­try to pro­gress­ively advance com­pli­ance with the NDC, while strength­en­ing envir­on­ment­al integ­rity and con­fid­ence in the inter­na­tion­al cli­mate cooper­a­tion sys­tem and the pro­tec­tion of human rights.