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Rabat – Oman’s Capital Market Authorities will hold a seminar on Morocco’s experience in financing the green economy on Monday at Oman’s Chamber of Commerce and Industry.
In line with the country’s Vision 2040, the seminar aims to introduce Oman’s policymakers to regulations related to green financing and help the country unlock the growth opportunities within the fast-growing market, according to the Times of Oman.
Morocco’s Capital Market Authorities will deliver a presentation at the seminar detailing green financing regulations, and its potential to enhance Oman’s business climate by attracting green-minded ventures, notes the source.
Morocco’s Capital Market Authorities will equally present the green economy’s contribution to social and environmental causes without compromising profitability, as green businesses are structured to reach their bottom line while also meeting climate change goals.
The seminar is in line with Oman’s Vision 2040 to support the economy take a greener turn while paving the way for a consciously-sourced, prosperous economy.
The green economy is a fast-growing demand worldwide, offset with a base need reflected a rising consumer demand on green-labeled products. Governments around the world are making green pledges in an effort to mitigate and adapt to the reality of climate change.
Governments in Europe, Asia, and Africa are all issuing Green bonds, special financing tools for green ventures to stimulate the growth of a greener economy in a bid to limit global warming to pre-industrial 1.5 °C.
However, reaching the current climate goals costs far more than what governments and the private sector currently pay.
A net-zero transition by 2050 will cost the global economy a total of $275 trillion, an annual average of $9 trillion, $3.5 trillion more than current spending, according to consulting Mckinsey.
Read Also: Morocco Creates New ‘War Room’ to Promote Green Economy Projects
