A flame retardant panel apparatus, and method, utilize a flame retardant panel, having an exterior and an interior face thereof, with the panel including a panel structure having a primary core encapsulated within a panel frame of reinforced phenolic material, and a layer of flame retardant material attached to the panel structure and extending outwardly therefrom to at least partially define an exterior face of the flame retardant panel. The flame retardant panel is suitable for use in mass transit conveyances, such as subway cars, high speed cars, rail cars, buses, rapid response vehicles, marine vessels, and elevators.