- Moroccan companies can achieve their goals in terms of carbon footprints and attract new investments through the Morocco-EU Green Deal agreement.
- The EU Ambassador to Morocco emphasized that the green transition is urgent on both sides of the Mediterranean and that the European Union is determined to lead it with its partners.
Morocco’s partnership with the European Union has the potential to enable Moroccan companies to achieve their carbon reduction goals and attract investments into green projects, said Said El Hadi, President of the Green Economy Commission at the General Confederation of Moroccan Enterprises (CGEM). Under the EU’s 2020 Green Deal – an ambitious plan to reach carbon neutrality by 2050 – Moroccan companies can achieve their goals in terms of carbon footprints and attract new investments into the country to produce green products, El Hadi told Morocco World News (MWN) on the sidelines of a joint seminar between Morocco’s Confederation for Businesses and four delegations from the EU.
The EU-Morocco Green Partnership was first signed in October 2022. Under the deal, the two entities pledged to consolidate cooperation on protecting the environment, conserving biodiversity, and fighting climate change. The agreement marked the first Green Partnership the EU signed with a partner country, focusing on three main fields: climate and energy, environment, including marine issues, and the green economy.
CGEM President Chakib Alj said the partnership paves the way for green innovation. He added, “The implementation of the EU carbon border adjustment mechanism is a momentous event. It is the first measure of its kind aimed at promoting green innovation in the industrialized world.” The President of CGEM also called on policymakers to continue providing incentives that stimulate innovation in green technologies, highlighting the importance of striking the right balance between introducing new technologies to the market and ensuring a just ecological transition and establishing strong global partnerships.
For her part, EU Ambassador to Morocco Patricia Llombart Cussac stated, “the transition to a decarbonized and circular industry offers significant opportunities for Morocco in terms of economic growth and access to new markets.” The EU Ambassador to Morocco emphasized that the green transition is urgent on both sides of the Mediterranean and that the European Union is determined to lead it with its partners.
She added that the Morocco-EU partnership opens promising prospects for Morocco, thanks to the country’s political will, extraordinary potential –particularly in renewable energies–and committed partners such as the European Union. The EU Commission and Morocco signed a multi-million investment deal that covers green fuel production for export to Europe, reflecting a strategy to draw on Africa’s proximity and potential in green energy production to cover the continent’s domestic energy needs.