Credit: Mustapha Razi / Le Desk
Experts have analyzed in depth the impacts of climate change on Moroccan agriculture, highlighting the crucial importance of the financial sector in contributing to mitigating these risks
Crédit Agricole du Maroc (CAM) and the European Investment Bank (EIB) today organized a meeting in Rabat aimed at raising awareness of the issues of climate change and promoting sustainable solutions for the Moroccan economy. Experts, decision-makers and players from the financial sector participated in this day rich in debates and constructive exchanges.
In Morocco, the effects of climate change are widely recognized. Recurrent droughts, floods, increased temperatures and rainfall variability have a significant impact on the economy and particularly the agricultural sector.
To face these challenges, Morocco’s sectoral public policies have integrated adaptation to climate change, with particular emphasis on water management. Furthermore, the transition to a low-carbon economy has become a priority, aiming to reduce dependence on fossil fuels and promote renewable energies.
The impacts of climate change also affect the banking sector by increasing the risk of borrower default. Good management of climate risk and the implementation of climate resilience strategies are therefore essential to mitigate these impacts and support investment in a sustainable economy.
In this context, the event closes an EIB technical assistance project in favor of the CAM, a project which made it possible to better understand climate risks within the green bank and to continue the identification of sustainable finance opportunities.
During his opening remarks, Mohammed Fikrat, Chairman of the CAM Management Board, recalled the bank’s historic commitment to sustainable development and its role in supporting 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 EU’s experience in the field of climate change and Adrien De Bassompierre, Head of the EIB Representation in Morocco, presented the EIB’s climate strategy.
Subsequently, Kenza Khomsi, Climate Manager of the General Directorate of Meteorology, addressed the trends and future projections of climate change in Morocco as well as their impacts on the Moroccan economy.
For his part, Riad Balaghi, agronomy researcher, analyzed the impact of climate on Moroccan agriculture.
The panel discussions provided a platform to stimulate dialogue and share the views of various stakeholders around the challenges of adapting to climate change and the role of the financial sector in this context. It brought together recognized experts: Faouzi Bekkaoui, Director of INRA, Assia Benhida, President of the CGEM Sustainable Development Commission, Youssef Farhat, Deputy Director at the Budget Department, Godefroy Grosjean, Senior Manager, CGIAR Hub for Sustainable Finance or Brahim Laroui, President of the Oilseed Processing Industrialists Group.
Exchanges between economic operators, farmers, researchers and ministerial departments thus made it possible to discuss expectations in terms of financing the transition to a green and low-carbon economy, and strengthening the resilience of financing tools in the face of risks. climatic.
“We are pleased with the quality of the partnership with the European Investment Bank” declared Mohammed Fikrat, Chairman of the CAM Board of Directors. And to add: “The project will allow us to strengthen our internal climate risk management processes and consolidate our green transition financing offers in order to best support our clients in facing the major challenge that climate change represents for our country. “.
“The harmful effects of climate change are already very palpable in Morocco, particularly in terms of levels and frequencies of precipitation and the chronic drought that results from it. In this context, our collaboration with Crédit Agricole du Maroc is particularly relevant, and illustrates our common desire to better assess climate risks,” declared Adrien de Bassompierre, EIB Representative in Morocco. “As the Bank of the European Union and climate bank, the EIB is determined to support financial institutions and, through them, SMEs to better understand these risks and to find innovative and sustainable solutions, to transform the challenges in opportunities and thus strengthen the resilience of the Moroccan economy. »
