This technical report covers the technical analysis of the technical annex submitted on a voluntary basis, in the context of results-based payments, by Panama on 30 June 2024 through its first biennial transparency report in accordance with paragraph 45 of decision 1/CP.24 and paragraph 14 of decision 18/CMA.1. The technical annex provides data and information on the activities reducing emissions from deforestation, reducing emissions from forest degradation, conservation of forest carbon stocks, sustainable management of forests and enhancement of forest carbon stocks, which are activities included in paragraph 70 of decision 1/CP.16, and covers the same national territorial forest area as the assessed forest reference level (FRL) proposed by Panama in its modified FRL submission of January 2022.

         Panama reported the results of implementing these activities for 2016–2020, which amount to 498,377 tonnes of carbon dioxide equivalent (t CO₂ eq) for 2016, 4,910,709 t CO₂ eq for 2017, 6,129,400 t CO₂ eq for 2018, 760,710 t CO₂ eq for 2019 and 6,206,390 t CO₂ eq for 2020 and were measured against the assessed FRL of –20,433,130 t CO₂ eq/year.

The data and information provided in the technical annex are in overall accordance with the guidelines contained in the annex to decision 14/CP.19. The technical analysis concluded that the data and information provided by Panama in the technical annex are generally transparent and consistent with the data and information used for establishing the assessed FRL in accordance with paragraph 71(b) of decision 1/CP.16 and section II of decision 12/CP.17. This report contains the findings from the technical analysis and a few areas identified for capacity-building and future technical improvement in accordance with paragraph 14 of decision 14/CP.19.