The Panama Canal has announced the launch of the emissions calculator, a new tool which will offer shippers an assessment of their carbon emissions, rank those who have reduced the most emissions by transiting the canal versus alternate routes, and encourage action to reduce carbon footprints.
Jorge Quijano, Panama Canal administrator, said that the tool would give customers “the information needed to make a more informed and environmentally conscious decision when planning their routes.”
According to the Panama Canal Authority (ACP), by offering shorter travelling distances and larger capacity, the waterway reduces fuel consumption and therefore emissions, generating less greenhouse gases (GHG) compared to other routes.
The emissions calculator will capture an array of data on shippers including vessel type, size, capacity, speed, fuel consumption and route, providing a measurement of the GHG they emit.
Data will then be centralized in the CO2 Emissions Reduction Ranking, a specially designed platform which ranks customers by those with the fewest emissions each month.
The Panama Canal hopes to incentivise customers to demonstrate strong environmental stewardship and adopt more sustainable itineraries.
The waterway will also use the emissions calculator to measure and track emissions from its domestic day-to-day operations and support the planning of a low carbon strategy that will be used to establish a roadmap for the Panama Canal to become a “Carbon Neutral” entity.