The imperative decarbonization of the economy
The European Commission will find it difficult to apply the new carbon adjustment mechanism at Europe’s borders scheduled for June 2023. And for good reason, the consequences of the Russia-Ukraine war are likely to upset the entire Green Deal agenda of the European Union. The postponement could indeed be explained by the need for several European countries to buy coal massively.
Moreover, concerning decarbonization, the World Bank made proposals in the latest draft of its report submitted to the government during the visit of its vice-president, in charge of the MENA region. To gradually decarbonize its economy, Morocco could aim for carbon neutrality by the 2050s by taking full advantage of its abundant and competitive renewable energy resources and by implementing its ambitious reforestation program, according to the document. It is the electricity sector that is targeted since it is the main emitter of greenhouse gases. It makes it possible to support the decarbonization of sectors that are also major emitters, such as road transport and industry. Although Morocco represents only 0.2% of global greenhouse gas emissions, the carbon intensity of its electricity sector is considered high.
The decarbonization of this sector would require the gradual closure of coal-fired power plants, thanks to the deployment of renewable energies and storage technologies. This will be complemented by the use of natural gas as a transition fuel, the report points out. According to this financial institution, to move from reliance on large thermal power plants to more dispersed solar and wind structures, it is necessary to make significant investments in the electricity transport and transmission network. In the medium and long term, Morocco could develop the large-scale production of green hydrogen and its derivatives, which could be used on the national territory for the production of green fertilizers, the transport and production of electricity, and replace natural gas, the document says. As the fifth-largest fertilizer exporter, Morocco has already taken decisive steps to reduce the footprint of its energy- and water-intensive phosphate industry. Investment in renewable energy and energy efficiency, in line with government targets for 2030, could create around 28,000 net jobs per year.
M.C.
