Panama Canal Authority, Monjasa sign sustainability agreement

The Panama Canal Authority and Monjasa, a global supplier of marine fuels, have signed a Cooperation Agreement aimed at developing initiatives that benefit communities within the Panama Canal Watershed (CHCP).

Panama Canal Authority, Monjasa sign sustainability agreement

The five-year agreement provides for the implementation of targeted projects in environmental protection, comprehensive well-being, culture, community development and education, all aligned with the United Nations Sustainable Development Goals (SDGs).

These initiatives will focus on communities within the CHCP and other areas of the country. The agreement was signed by Ilya Espino de Marotta, Deputy Administrator of the Panama Canal, and Rasmus Jacobsen, Managing Director of Monjasa Americas.

The agreement establishes a strategic alliance aimed at designing, developing and executing joint projects that integrate the three fundamental dimensions of sustainability: environmental, social and governance.

It also includes actions focused on decarbonisation and emissions reduction, aligned with the International Maritime Organization’s (IMO) objectives, the integration of ESG criteria and sustainable practices, as well as volunteer programmes and community engagement.

These shared projects will be executed in line with the strategies, capacities and standards of each signatory party, in full compliance with their respective legal frameworks.

“This agreement reaffirms our commitment to working with strategic partners to promote sustainable actions that endure over time and contribute to a more responsible future,” stated the Panama Canal representative.

On behalf of Monjasa, Rasmus Jacobsen remarked: “Monjasa fuels global maritime trade, and it is a privilege to further deepen our relationship with the Panama Canal Authority on this important agenda.

“Our local presence must also benefit the communities and the environment around the Panama Canal.”

Late last year, Panama was re-elected to Category A of the IMO Council with 148 votes at the 34th Assembly in London.