Financing a Just Transition

THE PARIS AGREEMENT PLATFORM

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The need to scale climate ěãÖãØÚåçäëÞèÞäãÛäç a just transition: Morocco’s perspective

As a country that is recognised as particularly vulnerable to climate change, sustainabili- ty is a key concern for Morocco. Increased private and public funding, especially from devel- oped countries, will be crucial in supporting developing coun- tries to meet their goals. Bouzekri Razi, former UNFCCC National Focal Point, and director, Climate Change, Biodiversity and Green Economy, Morocco’s Ministry of Energy Transition and Sustainable Development; and Iskander Erzini Vernoit, director, IMAL Initiative for Climate and Development

M orocco has long been considered a leader in climate action, ranked among the highest for its ambition. Its recent efforts reflect its longstanding commitment to fighting climate change. Its nation- ally determined contribution, updated in 2021, outlines a clear roadmap for national efforts on climate change, in mitigation and adaptation, with finance at its heart. Morocco’s NDC emphasises a com- mitment to renewable energy and decarbonisation. It aims to achieve 52% of electricity generation from renewable sources by 2030. This is an enhancement of past ambitions. Under the farsighted vision of King Mohamed VI, investment in renewable energy, especially solar and wind, has not only reduced Morocco’s dependence on fossil fuels from for- eign sources, but has also created new economic opportunities and improved energy access for rural communities. Morocco’s pioneering efforts on renew- able energy have been an inspiration to other countries for over 15 years. Morocco’s NDC also stresses the imperative of adaptation and improved resilience to growing climate change impacts. Morocco, liable to drought, desertification and flooding, is consid- ered a particularly vulnerable country under the United Nations Framework Convention on Climate Change, and has suffered extreme weather impacts. The NDC outlines a range of adaptation plans, notably regarding agriculture and water resources, and

also in fisheries and aquaculture, for- estry, the health sector, housing, and the most vulnerable environments and ecosystems: oases, coastlines and mountains. The NDC notes that, with- out adaptation, vulnerabilities will hinder Morocco’s achievement of the Sustainable Development Goals. NDC conditions on scaling finance Finance is a core requirement of any national effort to implement mitigation and adaptation measures – and indeed, finance is a core part of Morocco’s NDC. Morocco’s NDC unconditionally com- mits to reduce emissions by 18.3% by 2030 relative to a business-as-usual scenario, based on 34 unconditional national measures. It also commits to reduce as much as 45.5% by 2030 depending on international climate finance for a further 27 conditional measures. The NDC estimates that $38.8 bil- lion will be required to fully achieve its mitigation targets. Of this, $21.5 bil- lion is required as international climate finance for the conditional aims. National efforts on finance Since the adoption of the Paris Agree- ment in 2015, Morocco has worked to strengthen its domestic frameworks for climate finance, in addition to efforts at international levels. A notable mile- stone was Morocco’s adoption in 2016 of its Roadmap for Aligning the Financial Sector with Sustainable Development Challenges. In the absence of international

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Financing a Just Transition

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