First Chief Sustainability Officer appointed by Panama Canal

The Panama Canal has appointed Ilya Espino de Marotta as its first Chief Sustainability Officer (CSO), with a focus on developing a more robust sustainability strategy, including decarbonization and creating new business opportunities. The Canal is working with the International Finance Corporation to finalize an inventory of its greenhouse gas emissions and climate risk assessment by the end of the year. Short, medium, and long-term emission reduction targets will be set, with the goal of aggressive implementation starting in Fiscal Year 2025.

Panama Canal Administrator Ricaurte Vasquez stated that the Canal has a significant influence on the maritime industry and sees an opportunity in leadership to diversify and improve its business practices. The Canal is integrating climate action responsibility across its entire leadership team and embedding its commitment to sustainability across the entire business, including over $8.5 billion in expected capital investments through the next five years. Ilya Marotta, the new CSO, aims to reach net-zero greenhouse gas emissions by 2050 and plans to publish the results of a greenhouse gas inventory and commit to science-based targets in the next six months.

Marotta, who began her career at the canal in 1985, was the first female deputy administrator and has extensive experience in engineering and overseeing the Canal’s expansion program. Her appointment as CSO reflects the Canal’s commitment to sustainability and environmental leadership.

Source .