Morocco

AMMC launches the Socially Responsible Investment Guide and Recommendations for Asset Managers

BAM conducts the first assessment of climate-related physical and transition risks in the banking sector with the support of the World Bank

BAM embarks on the capacity building of banking sector to accelerate the implementation of the Regulatory Directive to address and manage financial risks related to climate change and envrionment and to promote sustainable finance. A first SREP pilot exercise and two qualitative surveys were conducted with the support of international experts to assess the degree to which banks are compliant with regulatory expectations on climate-related and environmental risks corporate governance and management.

AMMC collaborates with stakeholders to support innovation in the capital market, including in Fintech

Issuance of a one billion dirham (approx. USD 270 million) green bond, carried out in accordance with the framework established by AMMC

Issuance of the first gender bond, in accordance with AMMC gender bonds guidelines

AMMC organizes training and capacity-building events on green bonds for issuers and local verifiers

BAM holds periodic informative meetings with banks on climate related risks measurement methodologies and best practices

BAM starts its climate-related risks assessment exercise as a first step to inform the integration of climate-related financial risks into the supervisory framework and designs further incentives for climate-related risks management by banks

BAM organizes a workshop for banks on portfolio alignment metrics and methodologies with COP26 TCFD experts

AMMC launches an internal capacity-building program, with support from IFC, for training staff and developing an assessment tool for ESG reporting

AMMC, as chair of the IOSCO AMERC regional committee, creates initiatives and chairs a sustainability working group to facilitate the exchange of experience among the committee's member jurisdictions and map sustainability policies and practices in the region

BAM publishes updated National Strategy for Inclusive Finance (N3-2021)

BAM publishes Draft Regulatory Directive Calling on Banks to Address Climate and Environmental Financial Risk

AMMC releases Gender Bonds Guidelines, first gender-specific bond guidelines in the emerging markets

BAM launches a two year work program supported by the World Bank on climate-related risks, supervision, and monitoring

Almost 100% compliance with ESG reporting achieved by issuer on the Moroccan Capital Market (first mandatory ESG reports published for 2019 financial year)

AMMC, in partnership with the Toronto Center, organizes a workshop for the signatories of the Marrakech Pledge, followed by the publication of a white paper compiling best practices and recommendations for "Implementing Green Capital Markets in Africa"

BAM publicly supports TCFD standards

BAM organizes the 3rd edition of the Global Green Finance Leadership Program, with CFCA, the Tsinghua University Green Finance Development Research Center and IFC

BAM organizes the Global Conference on Inclusive Green Finance with AFI

BAM launches new unit dedicated to green finance

AMMC introduces regulatory provisions for the issuance of sustainable financial instruments as well as for mandatory ESG reporting by issuers

AMMC publishes Green, Social and Sustainability Bonds Guidelines

AMMC joins SBFN

BAM joins the Network of Central Banks and Supervisors for Greening the Financial System (NGFS)

Issuance of the first sustainability (Green&Social) bond Aggregate amount of sustainable finance instruments reaches more than $420 million

Launch of an ESG index on the Casablanca Stock Exchange

Issuance of a green bond labelled in Euro (135 million Euros) and subscribed by IFC and Proparco. The issuance is the first issuance green bond labelled in foreign currency and the first green bond investment for IFC and Propoarco in the region.

AMMC and Casablanca Stock Exchange publish CSR and ESG Reporting Guidelines

GPBM launches Banks and Climate Charter

AMMC launches the Marrakech Pledge

AMMC launches the Marrakech Pledge

BAM coordinates the elaboration of the Roadmap for Aligning the Moroccan Financial Sector with Sustainable Development

Issuance of the first two green bonds on the Moroccan market, prepared according to AMMC green bond guidelines

BAM joins SBFN