Green Finance: Morocco Launches Public Consultation on Its Future Financial Taxonomy
Morocco Takes a Significant Step in Sustainable Finance Development
Morocco is making strides in the advancement of its sustainable finance sector. The Ministry of Economy and Finance, in collaboration with Bank Al-Maghrib (BAM), the Moroccan Capital Market Authority (AMMC), the Insurance and Social Welfare Control Authority (ACAPS), and the Ministry of Energy Transition and Sustainable Development, has launched a public consultation on the draft Green Financial Taxonomy of Morocco (GFTM).
This initiative aims to gather feedback and suggestions from institutions, economic operators, investors, and the general public, enriching the future framework before its final adoption.
A Reference Framework for Green Investments
The Green Financial Taxonomy of Morocco seeks to establish a national classification of economic activities deemed sustainable based on scientific and technical criteria.
This framework will allow banks, investors, companies, and public institutions to better identify projects that contribute to combating climate change while facilitating the management of environmental risks and financing the ecological transition.
The project constitutes a key lever for implementing the Climate Finance Development Strategy by 2030 and the climate commitments made by the Kingdom under its Nationally Determined Contribution (NDC 3.0), as well as under the National Low Carbon Strategy by 2050.
An Initial Phase Focused on High-Emission Sectors
In its initial version, the taxonomy covers sectors with the highest climate impact, particularly energy, transportation, and industry.
The goal is to provide a harmonized framework that directs funding towards projects that promote the reduction of greenhouse gas emissions as well as enhance resilience to the effects of climate change.
Technical Criteria Open for Consultation
The documents available for this consultation include two main sections: one dedicated to activities that contribute to climate change mitigation, and the other focused on initiatives that enhance adaptation to climate risks.
Authorities particularly seek stakeholder input on the relevance of the proposed technical criteria, the clarity of the framework, the modalities for its gradual implementation, and the necessary support measures to facilitate its use by various economic actors.
Contributions Expected by the End of July
This initiative is supported by technical assistance from the World Bank and Expertise France, a member of the French Development Agency (AFD) group.
Administrations, financial institutions, companies, professional organizations, and interested citizens are invited to submit their remarks and recommendations by July 31, 2026, to contribute to the finalization of this future reference framework aimed at accelerating green investments and supporting the transition to a low-carbon economy in Morocco.
