Panama proposes a reduction in GHG emission of 24% by 2050 and 11.5% by 2030 in reference to the BAU scenario (representing an estimated avoided 60 million tons of CO2 equivalent accumulated between 2022-2050 and up to 10 million tons of CO2 equivalent accumulated between 2022-2030.
Panama commits to 15% of its energy matrix from renewable sources by 2030. For that, the main policy instrument is fiscal and financial instruments for the installation of renewable power plants (hydropower plants, wind station, solar panel), as well as renewable targets. Regarding energy efficiency, Panama put into force fourteen (14) energy efficiency indexes, standards and technical regulations for air conditioning and refrigeration, with their respective energy labelling. Also, it is proposed forest regeneration of 50.000ha, which is equivalent to a reduction of 2.6MTCO2 in GHG emissions (Panama NDC, 2020).