VCMI and the Government of Panama Announce Strategic Partnership to Strengthen National Carbon Market
Panama City, Panama – 22 May, 2025: The Government of Panama and the Voluntary Carbon Markets Integrity Initiative (VCMI) have announced a new collaboration to support the development of a high-integrity National Carbon Market for Panama. The market will supply local and global demand for high-quality carbon credits, while also supporting the achievement of Panama’s nationally determined contribution (NDC) and nature goals.
The partnership was formally launched during UNFCCC Climate Week 2025, hosted in Panama City, where VCMI, the Partnership for Agricultural Carbon (PAC) and Panama’s Ministry of Environment (MINAM) co-hosted the event “Unlocking Carbon Market Opportunities in Latin America for Agriculture and Nature-Based Solutions on the Road to COP30.”
This session took place on the main stage of the Nature Summit, bringing together ministers, technical experts, leaders from the agriculture community, investors, and other stakeholders to explore how accelerated carbon finance flows across the region can support the scaling of nature-based solutions and sustainable agriculture systems.
“We are delighted to collaborate with the Government of Panama to demonstrate how carbon markets—when designed and governed with integrity—can be a powerful tool for financing sustainable development, protecting nature, and supporting local communities,” said Mark Kenber, Executive Director of VCMI.
Panama is located in one of the world’s most biodiverse regions, covered 60% by forest, and is committed to delivering real-world climate action through high-integrity carbon markets. Through the partnership, VCMI is providing in-house support to the Ministry of Environment through the hiring of two regional experts who will:
· Support the design of robust, transparent carbon market governance aligned with global best practice and Article 6 of the Paris Agreement
· Ensure the market is strategically aligned with the domestic policy landscape and can be scaled up over time
· Facilitate knowledge exchange, capacity building, and engagement with local stakeholders to ensure the market works for people and planet.
Juan Carlos Monterrey Gómez, Special Representative for Climate Change & National Climate Change Director of the Ministry of Environment of Panama, said: “Panama is committed to leading by example in building a carbon market that delivers real climate action, respects nature, and benefits our people. This partnership with VCMI supports our ambition to develop a high-integrity framework that attracts international investment while safeguarding environmental and social integrity. Looking ahead to COP30, we see carbon markets scaling up as an essential tool to mobilize finance and drive sustainable development across Latin America and beyond.”
George Hodgetts, Senior Policy Associate at VCMI, said: “Panama’s leadership on the design and implementation of innovative climate finance mechanisms shows what’s possible when climate ambition is paired with a commitment to integrity. We are excited to support the Ministry’s vision and help mobilize global investment to communities driving real-world climate solutions.”
UNFCCC Climate Week provides a platform for collaboration between governments ahead of COP30 in Brazil, where carbon markets are expected to play a key role in global climate negotiations, providing an essential tool for channelling finance to the Global South.
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About VCMI
The Voluntary Carbon Markets Integrity Initiative (VCMI) is an international non-profit committed to realizing the full potential of high-integrity voluntary carbon markets (VCMs). Our mission is to empower companies, governments, and non-state actors to maximize the impact of their climate actions through the use of high-quality carbon credits.
VCMI’s Codes of Practice provide rigorous, science-aligned guidance for organizations to take credible and transparent climate action using high-quality carbon credits, enabling them to align their climate transition plans with accelerating progress to global net zero.
Through our Access Strategies Program, VCMI supports host countries, regions, and sectors to participate in high-integrity carbon markets and unlock the environmental, social, and economic benefits of carbon finance within national climate plans. This program is instrumental in building the necessary infrastructure for countries to participate meaningfully and benefit from the global carbon market.
At VCMI, we are committed to integrity, transparency, and impact, ensuring that every carbon credit used contributes to real, verifiable climate progress.
For media enquiries, please contact: VCMI@bcw-global.com