Dand in a context marked by an unprecedented energy crisis and a questioning of our energy sovereignty, the problem of the energy transition of companies is being addressed. Faced with these challenges, ESG criteria are becoming more and more important to guide the investments of companies. It is in this context that Crédit du Maroc organized a meeting on the theme “Green finance and ESG criteria: what are the risks for a new model of sustainable business development in Morocco? ».
“In preparation for this edition, we have taken the initiative to position ourselves on the register of collective awareness and awareness,” he said. explains Karim Diouri, a member of the Directorate in charge of the Moroccan Credit Development Pole. He explains that the bank today clearly has a firm determination to be a key player and reference in green finance and in energy finance. In his presentation, K. Diouri described an alarming state of affairs on climatic and environmental risks at the global and national levels. These risks are now pushing governments, businesses and economic actors in a general way to act and take emergency measures.
“In Morocco, 80% of our electricity comes from fossil energy and 65% comes from coal. We are already seeing the effects of climate change: seasons that tend to disappear, oceans that gain acidity, ”says Diouri. These figures, which give cold to the back, “interrupt us and above all we must act.” It is therefore more than ever necessary for us to organize to unload our economy. This decarbonization through an energy transition has today become a truly strategic reality at the heart of business for companies. Durable investments are not to be considered as a cost, but rather as a performance level. What’s more, this recharging of the economy is no longer a luxury or an option. Evidence in support, the official cites: • States, governments and regulatory agencies are increasingly intervening in favor of climate (similar to the Greendeal in Europe). On the African continent, Morocco has been a precursor with the establishment of a national strategy around renewable energy. For Diouri, “we are witnessing the emergence of a sector that offers real development potential for companies that wish to enroll in this unique energy strategy.” • The regulation is being pushed progressively from 2023, with the introduction of a carbon tax at European borders that could negatively impact the competitiveness of our national companies. • The integration of ESG criteria into publications is now an obligation for neighboring companies. • Notation agencies seek to develop their expertise by acquiring service companies that specialize in sustainable development (such as Vigeo which was acquired by Moody’s). • Investment funds embrace this funding trend by favoring participation in companies that meet ESG criteria. Race results: “Tomorrow, the success of companies will depend in large part on the ability to integrate social and environmental responsibility into its day -to -day management”. In the end, the top management of Credit Morocco says it is convinced that the performance of companies is closely linked to its ability to build its business model around ‘utility’ industries responding to the needs of the holding parties and allowing the construction of a more durable, more just and equitable society. In this, Crédit du Maroc, a reference actor on the subject, intends to play its full role as a financial partner and bank advisor. Note that the development of green finance has always been a will anchored in the bank’s DNA.