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Rabat – The Euro-Mediterranean University of Fez (UEMF) hosted a conference today under the theme: “the EIB and climate action, a global, regional, and national perspective,” aiming to advocate for climate resilience by engaging Moroccan youth in the fight against climate change.
The conference was led by Vice-President of the European Investment Bank (EIB) Ricardo Mourinho Félix, who is on his first official visit to Morocco.
Mourinho discussed with UEMF students the importance of tackling climate change and the prospects that the climate transition provides.
The event focused on three key points: the strategic positioning of the EIB in the regions on the subject of climate, project financing in Morocco, and the EIB roadmap for the upcoming COP27.
The event was an opportunity for President of UEMF Mustapha Bousmina to highlight the university’s efforts in achieving energy efficiency, for which they received an award at the COP22 in Marrakech.
Not enough
“We have different courses on sustainable development… but the reality is that it is not enough,” he said, stressing the importance of raising awareness about climate change issues among primary school students.
Bousmina continued stressing the urgency of this situation, adding that “we don’t have another homeland, we have only one planet earth.”
“All the indicators are becoming worse and worse, year by year,” he added.
The University’s president highlighted that Europe is doing a “very good job.” Bousmina said that the entire world should participate in a “collective effort to face this huge threat.”
For his part, Director General of the EIB Felix Mourinho highlighted the various environment-friendly options that people can resort to in order to tackle climate change, including wind power and “installing new offshore wind power platforms.”
“PV [photovoltaics] panels are much easier to install than building a new natural gas power plant or co-power plant,” he explained.
In addition, he emphasized green hydrogen as another possible solution, but noted that it would cost a lot to produce it and transform it into electricity.
“The technology exists today at the pilot stage but not at the industrial stage in such a shape that is economically efficient,” he explained.
Calling for serious action
“We need better technology” that is affordable and efficient, Mourinho indicated, adding that “effort must start now in innovation and improving the quality of electrolyzers.”
In this regard, Mourinhou suggested “energy efficiency” as a solution that can be achieved in a short period of time. Energy efficiency is “the cheapest form of energy… it is the energy that you do not use… you don’t need to produce, and there is no cost.”
Read also: World Bank: Climate Disasters Cost Morocco More than $500 Million Annually
He recalled that measures adopted in energy efficiency are “long-lasting” and would improve the quality of buildings, such as management of temperatures. He gave the example of zero emission buildings, which only use renewable energy.
According to Mourinho, the world has all the technology necessary to enable humans to have “smart buildings,” which in turn would allow for the optimization of energy in terms of lighting systems.
During his statement he spoke of other technologies that exist today, which can be used to reduce energy waste, stating you can find these technologies in “our buildings, cities, and lives.”
The university president also encouraged the use of public transportation. “With the innovation we have today, we can do a lot,” he noted.
Global crisis needs global response
“A global challenge must face a global response,” Mourinho said, stressing that he sees steps in the right direction but does not see a “complete commitment.”
Bousima recognized the benefits of resorting to electric vehicles as a sustainable solution, but said that Morocco’s battery technology we have is not yet “mature.”
He also spoke of the positive aspect of using solar energy in batteries, but said that Morocco has not yet resolved the issue of storing the energy generated during the day for night use.
As a means to find a solution, Bousima called on Moroccans to follow in Europe’s footsteps by “collectively participating in the production of green energy, and creating plans of solidarity.” He suggested sharing energy between communities and neighbors through the creation of rooftop solar systems.
New approach
The event also tackled the EIB’s approach for financing projects in Morocco. Instead of funding individual projects in the country, the EIB is set to adopt a new plan whereby it finances “sector-based loans,” Mourinhou explained.
This approach will enable the financing on several investments from one sector, such as education, health, and malnutrition.
Mourinho explained that the EIB will finance thousands of small projects instead of specific infrastructures, supporting the progress of the entire infrastructure and achieving positive results.
He stressed that in order for positive outcomes to be achieved, “structural change” must take place in the way the “electricity market is organized.”
Mourinho echoed Bousmina’s rooftop solar systems suggestion, saying that it creates a “feedback effect” where the producers are also the distributors and consumers of electricity.
In addition, he highlighted the importance of supporting and financing social projects, which do not necessarily generate a cash flow, but create an “economic and social return, which is good enough.”
The aim behind the social project is to boost social entrepreneurship and support projects that have a “clear social merit,” through creating a sustainable business model.
