Morocco aspires to take a leadership position in global climate change mitigation. The country has set an ambitious goal of reducing greenhouse gas emissions by 45.5% by 2030, with 18.3% of this reduction being unconditional.
Meanwhile, Morocco has committed to ensure energy sovereignty through a national renewable energy strategy that aims to reach a capacity of 52% by 2030 and phase out coal by 2040. Morocco has also engaged since 2022 in a social policy that aims to generalise universal social protection and provide direct welfare.
Achieving Morocco’s climate and social commitments will necessitate effective economic instruments,additional financing, and measures that ensure not only a transition to a climate-resilient and carbon-neutral economy but also an inclusive one that leaves no one behind.
The measures to meet Morocco's Nationally Determined Contribution (NDC) will cost an estimate of 38.8 billion US dollars, and 40 billion US dollars for local adaptation between 2021 and 2030. The country expects to raise 21.5 billion US dollars in international investments to finance the implementation of the NDC.
The project supports the mobilisation of economic incentives for public and private funding and includes the following key activities:
1) Improving inter-ministerial coordination and planning instruments for a climate protection policy that is socially equitable and inclusive (e.g. NDC 3.0)
2) Fostering international cooperation to increase international climate investments (e.g. Article 6.2 projects)
3) Implementing socially equitable incentive mechanisms for climate protection within the Moroccan government (e.g., formulating tax policies for climate protection)
4) Supporting the private sector to measure, verify and finance instruments for the decarbonisation of the industry (e.g., by facilitating carbon accounting in compliance with the Carbon Border Adjustment Mechanism, CBAM)