Investment in Low-carbon Energy Facilitates Transition to Green Economy (Minister)

Casablanca – Long-term investments in low-carbon energy facilitate the transition to a more sustainable green economy and strengthen the productive capacity of the economy, said Tuesday in Casablanca, Minister of Economy and Finance, Nadia Fettah Alaoui.

“Long-term investments facilitate the transition to a more sustainable green economy and strengthen the productive capacity of the economy. The trends in climate change make it even more important to mobilize more long-term investment in low-carbon energy or in the efficient and rational use of resources,” said Fettah Alaoui who was speaking at the opening of a meeting initiated by the Solar Cluster.

These investments are essential to achieve the goal of limiting global warming, said the minister at this meeting on the theme “Accelerating the development of greentech sectors and companies in Morocco: an opportunity for socio-economic post Covid green and sustainable recovery.”

In order to finance these investments, public and private actors must have access to adequate and sustainable funding, she stressed.

For his part, Minister of Economic Inclusion, Small Business, Employment and Skills, Younes Sekkouri, highlighted the importance and economic potential of the GreenTech sector in Morocco.

The Minister noted that the support, development and acceleration of companies and start-up would become a lever to create skills in different sectors, including recycling, reconditioning, and the circular economy.

The ambition would be to enrich the current achievements by an efficient ecosystem around all these sectors and their trades, he added, noting that this ecosystem would be composed of qualified human resources and experts in these trades.

President of the Solar Cluster, Mustapha Bakkoury noted that Morocco has “real assets” to make the green hydrogen, in particular, a new field of development and opportunities.