Leila Benali, Minister of Energy Transition and Sustainable Development, confirmed that Morocco has a strategic opportunity to position itself as a regional hub for high-quality carbon credits, stating that this opportunity aligns with the national direction towards solidifying energy transition and sustainable development.
This statement came during her participation yesterday, Tuesday, in Casablanca at the second session of the conference “Expanding the Carbon Market in Africa,” held at the initiative of the Casablanca Financial Center and the Deposit and Management Fund, in partnership with the German Agency for International Cooperation.
Benali emphasized that Morocco is qualified to assume a pivotal role in this area, given its environmental, human, and institutional capacities. She called for adapting the regulatory framework, enhancing transparency and governance, ensuring environmental safety, and maintaining fairness in profit distribution, alongside the pressing need to mobilize substantial funding to support this transition.
The minister highlighted that the carbon market serves as an effective economic tool that contributes to accelerating energy and economic transitions and plays a political and social role supporting integrated and sustainable development. She clarified that Morocco’s commitment to climate action is not merely a response to international agreements but stems from a national ethical and strategic conviction about the necessity of sharing responsibilities based on the principle of climate justice.
Benali pointed out that the Kingdom has invested significantly in energy infrastructure, granting it the capacity to develop a competitive carbon market. She affirmed that the European carbon border adjustment mechanism represents a timely opportunity for Morocco to launch an energy industrial policy aimed at enhancing the competitiveness of productive sectors, especially those geared towards export.
The minister regarded carbon certification as a key tool to support Morocco’s position in global value chains, maintaining its market share by promoting decarbonization of industrial products and export services.
The conference discussed several axes, including ways to develop carbon projects in the African continent, the perspectives of investors and buyers in this emerging market, and the enhancement of Casablanca’s position as a leading regional financial center in this domain.
