The adoption of the carbon tax constitutes a crucial step for the ecological evolution of Morocco. This is what emerges from a recent publication by BMCE Capital Global Research (BKGR), entitled “Carbon tax: what impacts for Morocco?” and relayed by the daily Eco Inspirations in its edition of Friday December 27.
«Although it can be improved, the carbon tax remains a key tool for the ecological transition and its adoption is a crucial step for Morocco’s energy development. Successful implementation requires a fair balance between economic efficiency, social sustainability and business competitiveness and must be accompanied by a global and inclusive strategic vision.», lit.
Based on the polluter pays principle, this tax aims to limit CO2 emissions while strengthening public finances, with a contribution estimated at +0.8% of gross domestic product (GDP). It is also expected to stimulate innovation in the renewable energy sector and encourage more sustainable industrial practices, building on progress made, such as the Noor Ouarzazate project.
According to the same source, the introduction of a carbon tax in Morocco could come up against certain constraints linked in particular to the high cost of implementation. “Moroccan industries with high carbon emissions could thus experience increased pressure on their operational costs and further compromise their international competitiveness.“, we explain.
At the same time, social support represents a crucial challenge to the extent that public perception of the carbon tax remains complex, in particular for low-income households who would bear the increases in energy costs. The implementation of information campaigns and compensatory measures, such as tax credits or subsidies, would be essential to generate acceptance and guarantee a fairer transition.
BKGR recalls that Morocco had adopted a strategy “ambitious» of Finance Climate by 2030 which is based on three interconnected pillars. The first is the establishment of an integrated financial market. The second aims to promote green investments through a suitable offer and attractive projects in terms of yield and ecological impact. Finally, the exploration of financial innovations, such as Fintechs and carbon markets, in order to democratize access to green financing and encourage the adoption of sustainable solutions. “In this wake, the 2025 finance law provides for the introduction of a carbon tax aimed at reducing the State’s oil bill by directing the energy mix towards renewable, more economical and sustainable resources. However, its application could be postponed until 2026», lit-on encore.
