Rabat – Morocco’s green financing market is now valued at $450 million, just six years after its inception, the country’s Capital Market Authority Operations and Information has said.
The director of Morocco’s financial regulator, Yaser Al Monsif, shared the news on Monday during a seminar at Oman’s Chamber of Trade and Commerce.
Al Monsif presented a paper from Morocco’s CMA to share Morocco’s expertise in the field with Omani officials.
The presentation aimed to share the principles governing the green market with Omani officials, and how it can contribute to increasing a country’s investment flow and stimulate the creation of more environmentally friendly businesses.
During the presentation, Al Monsif discussed Morocco’s experience in establishing a benchmark for green financing instruments.
Green financing instruments are becoming increasingly more attractive to investors, the Moroccan official said.
Oman’s CMA organized seminar discussed Morocco’s experience in establishing the regulatory framework needed for green financing.
Oman is looking to establish a regulatory framework to help it create a greener economy as part of its Oman Vision 2040, a two-decade government plan to stimulate economic growth while also reducing its carbon emissions.
Governments around the world are launching Green bonds and devising legislations and taxonomies to pave the way for investors to hop on the trend.
The special financing tools are all part of government-led public and private initiatives to fight global warming and reduce temperatures to pre-industrial levels of 1.5 °C.
Despite the impressive rise in green financing, the market is still short of the size needed for the world to reach the net-zero target.
A net-zero transition by 2050 could cost the global economy $275 trillion, according to consulting Mckinsey.
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