Highlights

Mr. Boussaid at the conference on « the mobilization of funds within the framework of the implementation of the Paris agreement » : 08/11/2016

Mr. Boussaid at the conference on « the mobilization of funds within the framework of the implementation of the Paris agreement »

The Minister of Economy and Finance took part in the conference on "Climate Finance Day 2016" organized by Casa Finance City in Casablanca, November 4th 2016, under the theme: "the mobilization of funds within the framework of the Paris agreement" and which is part of the (COP22) events. In his speech, the Minister recalled the main issues of the (COP22) which will focus on action items. The aim is to transform the collective commitment of the Paris agreement into a road map for the realization of national contributions.

He also stressed Morocco's commitments for climate, through namely the launching of various initiatives at the level of sector-based strategies and major structural programs concerning renewal energies, farming and transport.

Recalling Morocco's commitment as part of the COP 21 concerning its national contribution (NDCs), the Minister urged operators in the public and private financial sector, the international organizations as well as donors to join efforts to direct funds flows on low carbon channels.

At the national level, the Minister called on operators in the financial sector to be more innovative and come up with attractive and diversified "green" financing tools and products.

He stated that COP22 will be an opportunity for Morocco to initiate a collaborative national initiative for matching the financial sector to sustainable development issues.

At the regional level, and in connection to the reaffirmed commitment of Morocco to promote south-south cooperation, the Minister reiterated the role the Casablanca Finance City should play at the African level in the finance climate sector and underlined the importance of strengthening cooperation at the continental level in terms of sustainable development.

Internationally, he noted that domestic financial resources cannot respond alone to the commitments of the countries of the south in general and Morocco in particular in terms of achieving mitigation or adaptation projects, he urged the world of finance to enable concessional sustainable funding, with a real impact in terms of additionality.

Finally, the Minister focused on the role of budget and tax measures in terms of economic operators decisions and noted that climate budgeting is an aspect that should be developed and promoted in order to allow for the use, in the best possible conditions, of the countries' contributions within the framework of the (NDCs)​