MEDI1TV Afrique : Nouvelle stratégie de développement de la finance à l’horizon 2030. Décryptage Zinelabidine El Houssaini - 17/09/2024
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00:00Hello, ladies and gentlemen, and welcome to Focus Economique, a new climate finance development strategy for 2030.
00:19Today's topic is facing the challenges of climate change. Morocco has an ambitious strategy aimed at accelerating the green transition of the Moroccan financial sector by capitalizing on advances.
00:34How can finance accelerate the transition towards a green economy? How to strengthen the management of climate risks within the financial sector?
00:42What are the challenges and opportunities of this new strategy?
00:47Today, in this Focus Economique with Mr. Zine El Abidine Housseini, you are an environmental regulation expert, also a professor at the Abimel Kseidi University in Tetouan. Hello.
01:02Hello.
01:04Thank you for accepting our invitation. So, can you tell us about this new strategy of Morocco in terms of green finance and what are its foundations today?
01:17Well, I think it should be noted that the question dates back to 2016, exactly to the agreement that was organized in Marrakech a year after the Paris Agreement.
01:32The problem raised during this session or this edition was mainly the financing of everything that stipulated the Paris Agreement.
01:45And among these main axes was how to finance the green transition and, subsequently, how to finance this fight against change or rather climate change.
02:01Since this date, Morocco, under the leadership of His Majesty the King, has sought and worked to ensure that Morocco has a well-studied and well-built strategy
02:18regarding this major problem, which is currently the biggest challenge facing global economies and especially our region, MENA, and especially at the North African level.
02:31For this reason, Morocco has succeeded in laying the foundations or the major axes of this strategy in cooperation with the Ministry of Finance, Economy and Finance,
02:56in addition to the institutions directly concerned with the financing of everything related to the management of the effects of climate change.
03:14Moreover, Morocco has experienced in recent years a great period of drought that has affected the national market, either in terms of food or in terms of work.
03:29At the moment, we are trying to ensure that these effects do not exceed certain well-determined limits in order to find solutions to the major problems facing us today.
03:46Today, we need to find solutions to the problems of today or the problems of tomorrow, as we said, to the economic challenges for a sustainable green growth today.
03:56The stakes are important. This is an important strategy today, let's say even vital, for the green economy. In any case, what are the priorities for Morocco today?
04:10You know, when we talk about the environment, when we talk about ecology and especially when we talk about hydric stress, the first question that arises is financing.
04:22Because it is necessary to budget, it is necessary to ensure that the State is in perfect preparation to deal with these major problems.
04:37Of course, there is international cooperation, there are national institutions of foresight that can intervene at the level of this major problem, but mainly it is necessary to find necessary financial resources.
04:59And you know, for the question of resources, the first method or the first technique is at the level of the budget, at the level of the financial law,
05:16it is to impose taxes, environmental taxes, and to ensure, on the one hand, to encourage everything that is clean and everything that is necessary to preserve the environment,
05:38on the other hand, to encourage it by eliminating taxes and taxes, and on the other hand, to impose, to tax all activities that do not align, that do not make an effort in this area.
05:54It is for this reason that we have seen at the level of certain European countries, mainly France and other countries, that it is a big problem that has posed a lot of social and economic problems when we want to ensure that the budget of the State, the financial law, does what is necessary to go in this direction.
06:23It is for this reason that the Moroccan private sector is currently called, and we can see that the State is currently working to associate the private sector with this effort.
06:40Precisely, I am bouncing back on this, the observation has been made, it has been clear, there is a lot of funding coming out today, in any case from State funds and public funds, and what is missing is private funding.
06:53How to encourage more, and what are today the incentives and offers made by Morocco to encourage companies to invest more in this kind of project that is green and therefore ecological, sustainable?
07:07Exactly, because we must remember that the situation is a crisis situation, because with this great drought, this hydric stress, many companies have problems,
07:26of course at the level of recruitment, at the level of financing of their projects, because of the national reality, if I dare say so, that the economic market, the stock market and everything is influenced by the agricultural situation of the country.
07:49And in such circumstances, the call to the private sector is always accompanied by great difficulties, because the private sector is waiting for the State to help it get out of the crisis.
08:09So asking it to make other efforts, which is not possible, or which is only possible for certain sectors that are a little far from the agricultural sector, and this makes the problem even more severe.
08:31A severe problem today, you said it, companies that are waiting for State support. How can these companies, these SMEs, can be accompanied to manage the risks of the transition linked to the transformation towards a low-carbon economy?
08:53Well, first of all, these companies need training, training of the four, to get them used to this situation, because we are called, whether we want it or not, in the coming years to live with a situation,
09:20really delicate, because climate change, given the international situation, the international community does absolutely nothing to remedy this situation.
09:38This means that the temperature of the globe is rising, and water resources are in short supply every day.
09:51Yes, it is for this reason that these SMEs, these companies, must be assisted, on the one hand, by psychological preparation, on the other hand, by helping them to take into account their budget, their management and their work strategy.
10:17Economically speaking, these are the challenges that this situation raises. Otherwise, we risk having a lot of damage at this level.
10:29And it is for this reason that the State currently, the government and the institutions concerned are struggling almost daily to remedy this reality, which is getting worse day by day.
10:48A difficult international situation, the water resources, which continue to run out today, strong heat that continues. How could we use fintech in Morocco, the technology, precisely to serve this climate finance?
11:05Well, simply, we must ensure that the State participates in this effort directly, through international cooperation, on the one hand, and on the other hand, through scientific research,
11:28through our academic and university capacities, to ensure that everyone works for the introduction of all new techniques at this level.
11:46Because we need, at the level of desalination of seawater, of projects currently in preparation, to use a technology that takes into account the realities on the ground, on the one hand, and that does not require great efforts, either at the financial level or at the energy level.
12:13Because we remember the speech of His Majesty the King at the occasion of Trump's party, we must ensure that Morocco must have a strategy that takes into account the progress we have made in terms of new and renewable energies,
12:34on the one hand, and on the other hand, to prepare our young people, our staff, to participate, to involve them directly in the field of everything related to using this technology, to develop it.
12:56Because we have really made a lot of efforts at the university level, at the level of these technologies, which must not remain without being used for the good of the nation.
13:13Developing green financial instruments that are adapted today to the needs of the Moroccan market. Thank you, Mr. Zine El Abidine Housseini. I remind you that you are an environmental regulation expert. You are also a professor at the Abdelmelk Saadi University in Tétouan. It was a pleasure to have you with us.
13:34You are welcome. Thank you.
13:36This is the end of the economic focus for today. Thank you for your loyalty. Have a very good day. See you tomorrow.