Overview of the Green Financial Classification Initiative
On July 13, 2026, Morocco's Ministry of Economy and Finance, in collaboration with Bank Al-Maghrib, the Moroccan Capital Market Authority, the Insurance and Social Welfare Control Authority, and the Ministry of Energy Transition and Sustainable Development, initiated a public consultation regarding the Green Financial Classification Project. This initiative aims to further the development of Morocco's green financial classification system.
The Ministry of Economy and Finance elaborated on its website that the purpose of this public consultation is to collect feedback, observations, and proposals from stakeholders and the interested public. This input is essential for enhancing the classification project and ensuring its comprehensive completion.
Strategic Importance of the Project
This structured initiative, which is being implemented with technical support from the World Bank and Expertise France, part of the French Development Agency, is part of a broader strategy aimed at developing climate finance by 2030. It seeks to accelerate Morocco's commitment to international climate obligations, particularly those outlined in the latest Nationally Determined Contribution (NDC 3.0) and the National Low Carbon Strategy (2050).
The Green Financial Classification serves as a common reference point that categorizes economic activities deemed green based on predefined scientific and technical criteria. This classification will enable the financial sector to better understand climate investment opportunities and enhance risk management practices.
In its initial phase, this classification will focus on sectors with significant climate impacts, including energy, transportation, and industry. The objective is to provide a coherent framework for public actors, financial institutions, investors, and both public and private enterprises. This framework will help identify activities and investment projects that contribute to achieving climate mitigation and adaptation goals.
The documents available for public consultation include a section dedicated to climate change mitigation, which encompasses economic activities that contribute to reducing emissions, as well as a section on adapting to the effects of climate change, which addresses activities that enhance resilience against climate-related risks.
Specifically, this public consultation aims to gather contributions from stakeholders regarding the proposed technical criteria for the covered activities, the clarity of the reference framework, its accessibility for the relevant actors, the phased implementation of the classification, and any additional support or clarification needed to facilitate its use.
Contributions can be submitted via email to consultation.taxonomie@tresor.finances.gov.ma, with a deadline set for July 31, 2026.
As reported by maroc.ma.
