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Agadir – Morocco and Norway have reinforced their cooperation in the field of carbon market through a new bilateral agreement aimed at accelerating climate action and supporting renewable energy deployment.
During a meeting on Tuesday, Morocco’s Minister of Energy Transition Leila Benali, signed the agreement with Norway’s Minister of Climate and Environment, Andreas Bjelland Eriksen.
The partnership establishes a framework for joint climate initiatives based on internationally transferable mitigation outcomes (ITMOs), a key instrument under Article 6 of the Paris Agreement that enables countries to cooperate in achieving their nationally determined contributions (NDCs).
“This agreement aims to develop collaborative approaches based on the market mechanisms provided under Article 6.2 of the Paris Agreement,” said Morocco’s energy Ministry.
The agreement is designed as collaborative market-based approaches to support high-impact climate projects and strengthen the role of carbon markets in global decarbonization efforts.
Both countries aim to implement joint projects that will contribute to emissions reductions while fostering sustainable investment flows.
A major component of the partnership is the planned rollout of a Generation-Based Incentive (GBI) program.
“The program places particular emphasis on more complex or less profitable renewable energy projects that require additional financial support through carbon market mechanisms,” the ministry explained.
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This initiative targets the deployment of approximately 2 gigawatts (GW) of renewable energy capacity over the period 2026-2036, including integrated battery storage solutions.
The program is particularly focused on supporting complex or less financially viable renewable energy projects, which require additional backing through carbon market mechanisms to ensure feasibility.
According to the agreement, the initiative is expected to reduce up to 10 million tons of carbon dioxide emissions by 2030.
Beyond its environmental impact, it is also designed to enhance Morocco’s attractiveness for green investment, mobilize climate finance, accelerate technology transfer, and create new employment opportunities in the renewable energy sector.
“The initiative is expected to reduce up to 10 million tons of carbon dioxide emissions by 2030, while enhancing green investment attractiveness, mobilizing climate finance, promoting technology transfer, and creating job opportunities,” the ministry stated.
