Morocco has initiated a public consultation to develop a national green finance taxonomy, a classification system that defines which economic activities can be considered environmentally sustainable. The move is part of the country's broader strategy to align its financial sector with climate goals and attract green investments.
The consultation, launched by the Moroccan Capital Market Authority (AMMC) in collaboration with the Ministry of Economy and Finance, seeks input from financial institutions, businesses, and the public. The taxonomy is expected to follow international standards, such as the EU taxonomy, while adapting to Morocco's specific environmental priorities, including water management and renewable energy.
According to the AMMC, the taxonomy will help prevent greenwashing by providing clear criteria for what constitutes a green investment. It will cover sectors like energy, agriculture, and waste management. The consultation period runs until September 2026, with the final taxonomy expected to be published by early 2027.
Morocco is one of the first African countries to develop such a taxonomy, positioning itself as a leader in sustainable finance on the continent. The initiative is supported by the World Bank and the International Finance Corporation (IFC), which have provided technical assistance.
