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Panama Canal to offer green incentives

Posted by: Alloy 2021-02-11 Comments Off on Panama Canal to offer green incentives

The recently expanded and highly lauded Panama Canal has launched a new initiative named ‘Environmental Premium Ranking’, a scheme that aims to reward customers whom try their best to uphold 

high environmental standards. 

This latest initiative is part of the Canal’s Green Connection Environmental Recognition Program, which recognizes customers who demonstrate excellent environmental stewardship and to encourage 

others to implement technologies and standards to help reduce greenhouse gas emissions. The standards are set by the International Maritime Organization in a bid to improve the widely criticised 

environmental performance of the shipping industry. 

Vessels that qualify as “Level 1” will receive an additional 10 percentage points for each transit through the Canal towards their overall customer ranking, and vessels that qualify as “Level 2” will receive 

an additional 20 percentage points per transit to improve their rank.

The incentive will become effective for transits beginning January 1, 2017. Participation is optional. Interested vessel must request participation and deliver documentation, which supports the environmental 

efficiency rating at least 96 hours prior to the vessel’s arrival.

“With the addition of the Environmental Premium Ranking to our Recognition Program, we’re rewarding those who make conscious efforts to reduce greenhouse gas emissions and invest in technology 

that will make shipping even more efficient,” said Panama Canal Administrator Jorge L. Quijano. “We look forward to working with our customers and industry partners to further bring value to their 

businesses and to our route, all while reinforcing commitments to sustainability and environmental protection.

Panama Canal to offer green incentives

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Source: Panama Canal Authority

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