Morocco's first steps towards a carbon market
The first National Carbon Market Conference in Morocco. Organized by the State Secretariat to the Minister of Energy, Mines and Sustainable Development, in partnership with the World Bank, the conference was held in Rabat on 7 July. It was an opportunity to discuss the Moroccan government’s efforts towards a green economy and define the relevant mechanisms to implement a national model that may be presented to the carbon market.
Creation of a carbon market in Morocco. The Conference discussed how the major economic operators of Morocco can contribute to the national effort to reduce carbon emissions under the Paris Agreement. Royal Air Maroc, for example, reiterated its commitment to reach -3% fuel consumption by 2020 through a Fuel Efficiency Program. The National Office of Electricity and Drinking water (ONEE), which contributes 13% of solar energy in Morocco, expressed its commitment to making a greater contribution through the implementation of its development plan 2017-2030.
New financial instruments to support the implementation of Nationally Determined Contributions (NDCs). The first results of a feasibility study for the creation of a carbon market in Morocco will be presented at the COP 23 in Bonn, on November 6 - 17, 2017. Ambassador Aziz Martin, Chief Negotiator at the COP22, stressed the importance of carbon pricing contained in article 6 of the Paris Agreement, while reminding participants that Morocco has created a platform for identifying sources of financing within the NDC, the Moroccan Climate Change Skills Centre (4C Morocco). This platform aims to strengthen the skills of actors in different sectors (public, economic, research and training, civil society, local authorities, etc.) and establish a hub for the development and dissemination of climate change skills.
Resources: Carbon Market Partnership Project | Growing green entrepreneurship in Morocco | Low carbon economies in MENA region could become reality by 2030