According to the Climate Finance Readiness Index 2023, Morocco is leading the way with appropriate climate finance regulations and guidelines in the Maghreb region.
The report, recently issued by Green for South, said that Morocco, a leader in the sub-region, is adopting voluntary rules and regulations, and has interesting volume of the climate finance activity (dealing with international funds and issuing green bonds) and effective awareness dispositions.
However, with a sub-region score of 31,33%, the report noted that the regulation to support climate action in the region is still in its infancy and recommended that Morocco and Tunisia make their regulations obligatory.
Apart from Egypt that has most of the reporting requirements mandatory, countries like Jordan, Morocco, Tunisia and Turkey have generally voluntary reporting requirements.
The report is based on data collected during Q3 of 2022. It focuses on MENAT (Middle East, North Africa and Turkey) and aims at assessing the readiness of the region’s financial systems to support climate action efforts.