Crédit Agricole du Maroc (CAM) and the European Investment Bank (EIB), held a conference today, May 23, 2023 in Rabat, which aims to raise awareness of the issues of climate change and promote sustainable solutions. for the Moroccan economy. This day brought together experts, decision-makers and players in the financial sector for debates and constructive exchanges.
The impacts of climate change in Morocco, such as recurrent droughts, floods, increased temperatures and rainfall variability, are widely recognized and particularly impact the agricultural sector. In this context, Morocco’s public policies have integrated climate adaptation with an emphasis on water management, while prioritizing the transition to a low-carbon economy, promoting renewable energies and reducing energy dependence. fossils.
For the banking sector, the effects of climate change translate into an increased risk of borrower default. It is therefore crucial to manage these climate risks and develop resilience strategies to mitigate their impacts and support sustainable investment.
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The event is part of the finalization of an EIB technical assistance project for the CAM. This project helped improve understanding of climate risks within green banking and promote sustainable finance opportunities.
During his opening speech, Mohammed Fikrat, Chairman of the CAM Management Board, recalled the bank’s historic commitment to sustainable development, highlighting its role in the green transition, particularly in the agricultural sector. For her part, Matilde Ceravolo, Head of the Economy-Environment Section at the EU Delegation to Morocco, shared the European experience in terms of climate change, while Adrien de Bassompierre, Head of the EIB Representation in Morocco, presented the EIB’s climate strategy.
Kenza Khomsi, Climate Manager of the General Directorate of Meteorology, detailed the future trends of climate change in Morocco and their repercussions on the economy. Riad Balaghi, an agronomy researcher, analyzed the impact of climate on Moroccan agriculture.
The panel discussions provided a platform for stimulating dialogue, bringing together diverse stakeholders. Speakers included Faouzi Bekkaoui, Director of INRA, Assia Benhida, President of the CGEM Sustainable Development Commission, and several other notable experts. The discussions focused on expectations in terms of financing for a transition to a green and low-carbon economy, as well as on strengthening the resilience of financial tools in the face of climate risks.
Mohammed Fikrat expressed his satisfaction with the quality of the partnership with the EIB, saying: “The project will allow us to strengthen our internal climate risk management processes and consolidate our green transition financing offers to best support our clients in the face of the major challenge of climate change. »
Adrien de Bassompierre added: “Climate change is already having very palpable effects in Morocco, including irregular rainfall and chronic drought. Our collaboration with Crédit Agricole du Maroc is therefore essential and illustrates our common desire to better assess climate risks. As the Bank of the European Union and a climate bank, the EIB is determined to support financial institutions and SMEs to transform these challenges into opportunities and strengthen the resilience of the Moroccan economy. »
The day ended on a positive note, paving the way for future initiatives for a Morocco more resilient to climate issues.
