Panama Canal Generates VER Carbon Credits

By George Backwell
Monday, September 01, 2014
Forest plantlings: Image ACP

The Panama Canal Authority (ACP) informs it has certified Verified Emission Reductions (VERs) or carbon credits, within the framework of the Sustainable Forest Cover Establishment Project in the Canal Watershed. The VERs are available under the financial service provider MARKIT Registry, the main global platform for management of carbon credits.

These credits are based in the agroforestry, silvopastoral and reforestation activities in 2,458 hectares of the Panama Canal Watershed, following the standards established by the Climate, Community & Biodiversity Alliance (CCBA) and The Gold Standard Foundation.

During the Gold Standard verification, it was estimated that forestry projects in the Watershed will remove 378,566 tons of CO2 in a period of 30 years. A total of 113,570 tons will be stored as buffer and 264,996 tons can be used as carbon offsets or traded as VERs in the international market.
 
Initially, the Panama Canal offers 50,000 VERs for companies that comply with the reduction of their carbon footprint as part of their environmental objectives. These VERs have been certified taking into consideration environmental and social criteria which differentiates them from other carbon credits.

The financial benefits of the future issuing of the carbon credits will be invested in the environmental projects currently conducted by the Panama Canal in the communities of the Panama Canal Watershed.
 
To date, more than 5,600 hectares of forest plantation projects have been stablished by the Panama Canal in different areas of the Watershed. These projects have had a positive impact in the Watershed inhabitants who provide seedlings and labor to conduct reforestation activities, while also helping in land and water protection by increasing the forest cover in degraded areas.
 
More information available at http://bit.ly/1vGAukB

 
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Technology

Can Bandwidth Supply Keep up with Maritime Demand?

In the next few years, demand for bandwidth on the high seas will grow, in no small part due to technology that is making operations more efficient and keeping crews and passengers healthy,

Drones: Is the Maritime Industry Ready?

Unmanned aerial systems (UAS), or “drones” in common parlance, are not a part of the historical maritime vocabulary. At least not yet. While the term “drones” may conjure images from science fiction,

Servowatch to Debut New Software at SMM

Integrated ship control systems supplier Servowatch said it will use SMM to launch its new automation and control software, WINMON 9.   WINMON 9 is a singular,

Ports

Panama Canal: Assessing the Risk & Reward

The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016.

Drones: Is the Maritime Industry Ready?

Unmanned aerial systems (UAS), or “drones” in common parlance, are not a part of the historical maritime vocabulary. At least not yet. While the term “drones” may conjure images from science fiction,

Guzmán Re-elected Harbor Commission President, Long Beach Port

Harbor Commission President Lori Ann Guzmán was re-elected Monday evening to serve a second one-year term leading the board that oversees the Port of Long Beach, the nation’s second-busiest seaport.

Finance

Baltic Index Down as Rates for Large Vessels Stay Weak

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels and supramaxes.

Summer Cruise to North Sea Oil Rigs Amazes Tourists

Bored with palm-fringed beaches and turquoise seas? Then the gigantic oil platforms of the North Sea beckon. The first ever "rig-spotting" cruise just ended off the coast of Norway,

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

Environmental

KVH's Zika Virus Safety Video for Mariners

KVH Industries, Inc., (Nasdaq: KVHI), announced today that it is offering Videotel’s new safety and training video about the Zika virus free to all mariners worldwide.

LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN

Long Beach Awards Sovcomflot for Green Shipping

PAO Sovcomflot earned the Green Environmental Achievement Award from California's Port of Long Beach, recognizing the shipper for its ongoing commitment to environmental stewardship.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1393 sec (7 req/sec)