Panama Canal’s Emission Reduction Initiatives Highlighted
During this five-day meeting, participants discussed the energy efficiency of the international shipping industry and the development of a fuel consumption data collection system.
The Panamanian delegation shared a statement at the meeting highlighting the importance of the Panama Canal route helping in the reduction of greenhouse gas emissions by vessels using the waterway. This makes the Canal an important component of an efficient maritime industry, committed to reducing the effects of climate change, a key part of the Canal’s Green Route strategy.
The Panama Canal Expansion will allow greater capacity vessels to transit, which will require fewer cargo movements, therefore reducing fuel consumption and CO2 emissions. Once inaugurated on June 26, 2016, the Expanded Canal will reduce CO2 emissions by an estimated 160 million tons in the first 10 years of operation, contributing greatly to international global warming reduction efforts.
The Panama Canal will implement a module of CO2 emissions offered to the maritime industry. This module will calculate and report the CO2 emissions of global trade routes, helping organizations and shippers identify the cost variables and environmental factors of each route. The implementation of this module, among other initiatives, further positions the Panama Canal as an environmentally sustainable Green Route.
The Panamanian delegation’s statements will be included in the MEPC’s final report.