Morocco to Create Carbon Market in Line with Its Economic Situation (Minister)

Rabat – Morocco aims to create, in the next few years, a carbon market in line with its economic situation and capable of generating carbon assets, allowing an involvement in the greenhouse gas emissions trading scheme, Secretary of State for Sustainable Development, Nezha El Ouafi, said Friday in Rabat.

Speaking at the opening ceremony of the 1st National Conference on the Carbon Market, El Ouafi said that this market shall take into account the new mechanisms of the world market, the recommendations contained in the 6th article of the Paris Agreement on climate , as well as the evolution of electricity, phosphate and cement sectors in Morocco, notably in the calculation of greenhouse gases, processes to improve the quality of control and management of emission data.

In this regard, the government is working to establish the fundamental bases for the various universally credible carbon assets, based on a globally recognized monitoring, reporting and verification principle, she stressed.

Morocco has recently focused on conducting an in-depth assessment study of the various GHG mitigation tools in the Kingdom, designing a measurement system, elaborating reports and checking emission data and the different impacts of their implementation, she said.