A tool launched by the Panama Canal Authority will offer shippers an assessment of their carbon emissions by ranking those who have reduced the most emissions by transiting the Panama Canal versus alternate routes.
The authority said that it had developed the Emissions Calculator as a measure to reduce carbon footprints by using technology already aboard the world's maritime fleet.
The data captured from ships will include vessel type, size, capacity, speed, fuel consumption and route in order to provide the most accurate measurement of the greenhouse gasses (GHG) emitted, including the total emissions saved by choosing the Panama Canal over other routes.
A CO2 Emissions Reduction Ranking, a specially designed platform which ranks customers by those with the fewest emissions each month, will centralize the data from ships.
The Panama Canal Authority said it had received “encouraging feedback” from its preliminary conversations with the industry.
Learn more about the Panama Canal's growth by reading 'The Panama Canal One Year After Expansion' technical paper by Argelis Moreno de Ducreux, Senior Specialist — Leader Liner, Panama Canal Authority
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 set up a roadmap for the Panama Canal to become a carbon neutral entity.
Following the close of its 2017 fiscal year, the Panama Canal announced that the waterway saw the largest amount of tonnage ever transited in its 103-year history after extra capacity from the Expanded Canal resulted in a 22.2% increase in cargo — pushing its annual figure to 403.8 million tons.
Jorge L. Quijano, Panama Canal Administrator, said: “The Panama Canal has always been committed to reducing its carbon footprint and impact on the environment.
“This new tool allows us to bring that same commitment to our customers, giving them the information needed to make a more informed and environmentally conscious decision when planning their routes.”