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Windmills on a hill
Dubai, United Arab Emirates

Governments and Businesses have Role in Accelerating Energy Transition

Governments, banks, and businesses have been identified as central players in accelerating the energy transition in Morocco. At an event organized by the Professional Group of Moroccan Banks on the sidelines of the ongoing UN Climate Summit in Dubai, participants agreed to accelerate the implementation of solutions to mobilize funds for those countries most in need.

They emphasized the role assigned to governments, regional international financial institutions, banks, companies, and civil society in accelerating the energy transition towards a more sustainable and environmentally friendly real economy, noting that cooperation between all concerned parties is necessary to confront global environmental challenges effectively.

During this meeting, the participants also discussed strategies, incentives, partnerships, support mechanisms, financing, and the opportunities and prospects available for green investments.

The speakers, including representatives of Moroccan banks and international and regional financial institutions, provided concrete examples of experiences of the participation of governments, financial institutions, companies, and small and medium enterprises at this level.

The meeting, which was also attended by representatives of regulatory bodies and Moroccan public institutions, was an opportunity to study financing prospects for developing solutions, especially about green hydrogen and aspects of integration and cooperation between actors, in addition to highlighting best practices and reviewing solutions, while mobilizing private actors, in a framework of integration and synergy between actors (public/private companies / financial institutions / large enterprises / small and medium enterprises) from the countries of the Global North and Global South.

This story was produced as part of the 2023 Climate Change Media Partnership, a journalism fellowship organized by Internews' Earth Journalism Network and the Stanley Center for Peace and Security. It was first published by Morocco Daily News on 9 December 2023 and has been lightly edited for length and clarity.

Banner image: Windfarm. / Credit: Morocco Daily News