The Ministry of Economy and Finance (MEF) held a meeting of its Climate Unit under the theme: “Integration of Climate Considerations into Public Finance Tools: Progress Achieved and Challenges Ahead.” This meeting provided an opportunity to review the progress of the various projects currently being implemented by the MEF, in close collaboration with the Ministry of Energy Transition and Sustainable Development (MTEDD) and other departments and public institutions concerned with the various topics, following the “Whole of Government” approach. This approach is supported by the main technical and financial partners of our country, notably the World Bank, the French Development Agency (AFD), the Delegation of the European Union, the German cooperation agencies GIZ and KfW, under the “Whole of Partners” approach.
The meeting featured opening speeches by Mr. Youssef Farhat, Deputy Director of
the Budget and President of the Climate Unit, Mr. Zakaria Hachlaf, Secretary General
of the MTEDD, and Mrs. Carole Megevand, Head of the Sustainable Development
Program at the World Bank. These speeches emphasized the importance of
strengthening the convergence of efforts from the various stakeholders, enabling
public finance to act as a structuring lever for the transition towards sustainable and
resilient development in our country.
In this context, the meeting’s work focused on presenting the progress made in
updating the Nationally Determined Contribution (NDC) 3.0, closely linked to aligning
it with the 2026–2027–2028 three-year budgetary programming. In this regard, the
ongoing Climate Budget Tagging project will allow for the identification of climate-
sensitive budget expenditures and the selection of projects eligible for green
financing, facilitating the preparation of a framework for issuing sustainable sovereign
bonds.
Furthermore, the meeting also highlighted the progress made in promoting green
public procurement, notably through the integration of climate considerations into
standard templates for Special Conditions Specifications and Tender Regulations,
the development of a “Green Purchasing” guide, and the establishment of training
modules for public purchasers. These actions aim to structure a coherent and
operational approach by aligning public procurement practices with environmental
sustainability objectives.
At the same time, special focus was placed on green governance of Public
Enterprises and Establishments (PEEs). Structural reforms are underway, notably the
introduction of ESG and CSR benchmarks within the governance code of best
practices for PEEs, the inclusion of climate and environmental commitments in
standard program contract templates, and the implementation of specific climate risk
management systems. These developments aim to strengthen the sustainable
performance of PEEs and to make them key players fully engaged in the
operationalization of Morocco’s climate commitments.
Discussions also addressed topics such as the green finance taxonomy,
macroeconomic impact studies, and carbon finance instruments. These areas
contribute to structuring a coherent climate finance ecosystem designed to support
the achievement of national strategic policies, as well as our country’s international
commitments to sustainable development.