Climate Change Data

American Chamber of Commerce and Industry of Panama

Climate Impact & Sustainability Data (2021)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Not disclosed

Environmental Achievements

  • Panama Canal inaugurated a third set of locks for neopanamax vessels, which prioritizes water savings and contributes to the reduction of CO2 due to the shorter distance to travel for larger sized ships carrying a higher load capacity than the previous maximum allowed.

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • The pandemic, and its consequences have directly affected Panama’s investment ratings.
  • Panama suffered from one of the most severe COVID-19 outbreaks in LAC. Panama’s Gross Domestic Product (GDP) contracted 17.9% in 2020.
  • Unemployment rate increased to 11.3% in October 2021.
  • Poverty had increased during 2020.
Mitigation Strategies
  • To counter the economic impact of the pandemic, the Government launched several construction projects for highways, railways and bridges and approved a new investment incentives regime, mainly in the form of tax benefits, targeting multinational companies that carry out operations from Panama and provide manufacturing services.
  • Panama responded to the COVID-19 crisis by maintaining approximately the same investment levels as of 2019, while adding new social spending, despite a large drop in revenues (21.2% in 2020).
  • The amended fiscal rule enshrines a gradual reduction in the deficit up to 1.5% of GDP by 2025.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 9001:2015 (Colon Free Zone)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed