The Race to Decarbonization is On: Morocco Takes the Lead
The race to decarbonization has begun, and it's not just Tunisia that's shifting into high gear. Morocco is also multiplying its initiatives in a domain where we're lagging behind. Yesterday, the Caisse de Dépôt et de Gestion and Casablanca Finance City Authority signed a strategic partnership agreement to establish a regional voluntary carbon market, capable of providing a concrete response to the provisions of the Paris Agreement.
This project, aligned with global goals to reduce greenhouse gas emissions, aims to position Morocco as a key global player in sustainable development and a leader in sustainable finance in Africa. The mechanism is based on an emissions quota exchange system, applying the "polluter pays" principle. The collected funds will be invested in clean technologies and sustainable development initiatives.
Another key benefit: preparing for the implementation of the carbon adjustment mechanism at the European Union's borders. Moroccan exports could therefore gain competitiveness compared to Tunisian ones. In the absence of a similar market, Tunisian companies would be forced to go through the Moroccan mechanism to access Europe. Africa is a vast reservoir of carbon credits, and the Kingdom has the necessary networks to attract them and create a dynamic green hub. To those who will listen.
