+212 537 68 89 00 / marrakechpledge@ammc.ma
  • The Pledge
    • Presentation
    • Signatories
    • The Marrakech Pledge
  • Aligning Africa
  • Green Bonds
  • ESG Standards
  • News
  • Events
  • Insights & Resources
    • Insights
    • Resources
  • Useful links
  • Contact
French
English

THE PLEDGE

Home THE PLEDGE
Presentation
Objectives
Commitments to Action
Presentation

The “Marrakech pledge” for “fostering green capital Markets in Africa”, is one of the key continental initiatives launched during the COP22 held in Marrakech in November 2016, to scale-up climate finance, and was registered as part of the key initiatives on climate finance under the 2nd biennial High-Level ministerial Dialogue on Climate Finance held in conjunction with the COP22.

Led by 23 African capital markets regulators and exchanges (covering 25 African countries) and opened to all countries from the South, it aims to work collectively to enable the rapid and effective establishment of climate-resilient capital markets and a surge of efficient and innovative climate-resilientCapital Markets System in Africa and the surge of efficient climate finance mechanisms, with the view to allow for a substantial increase of public savings and private capital flows towards low-carbon and climate-resilient investments, particularly in developing countries;

The “Marrakech pledge” for “fostering green capital Markets in Africa”

initiative is a to action for all African Capital Markets Regulators and Exchanges willing to act collectively in favor of sustainable development, and to have an actual impact on fostering Green Capital Markets in Africa, within respective local markets and as a region, to promote climate-resilient investments and drive capital into the green economy.

READ MORE
Presentation of Marrakech Pledge
In a context of climate change threats to the future of the planet, financing the world’s ambitious set of Sustainable Development Goals is a challenge to be overcome.

The Paris agreement following the COP21 called for a drastic shift of the way usual business and economic activities are carried out with the aim to reduce global warming to less than 2°C pre-industrial level.

For such radical shift to effectively take place, tangible measures are required by the Parties, and through collective action, for an effective implementation of the Lima-Paris Agreement.  To that end, mobilizing the required funding to finance the climate transition and ensuring fair access to available resources, in particular for countries in the south, are today the first priorities.

Climate finance is recognized as a key determinant of the needed global economic transformation towards sustainable and climate resilient structures. It is an increasing priority area on the agenda of policy makers, regulators and market practitioners to integrate the need to transform their financial environments in order to move the green economy forward and encourage climate-resilient investments.

The COP22 held in Marrakech in November 2016, also known as the COP of Action, aimed to accelerate the delivery of the Paris Agreement and translate the global commitments into concrete measures to effectively face the climate change threat.

The south is keen not be left out of the leadership to combat climate change and bring our planet to within its boundaries. It is a threat that presents an opportunity to the South and particularly Africa to grow sustainably while meeting its growing populations’ needs. Unlike the rich world that has used polluting old technologies to produce energy and fuel its industries, the South could benefit from technological advancements and innovations aimed at adaptation and mitigation of climate change. The south needs to strike a balance between creating jobs, building infrastructure, diversifying its industries and protecting its natural resources. The sun, wind and unexploited arable land are few of Africa’s opportunities. The potential for renewables on the continent is substantial and major environmental investments are being made.

African leaders are engaged in this path following their adoption of the sustainable development goals and ratification of the Paris Agreement on Climate Change, however this would not be possible without serious actions, reforms, adequate financing and regional and international cooperation.

Against this framework and aware of the crucial role that exchanges and financial markets’ authorities could play in promoting green finance, a number of African capital market authorities and exchanges (Moroccan Capital Market Authority (AMMC) launched the  “Marrakech  Pledge”  for  “Fostering  Green  Capital  Markets  in  Africa”,  which  is  a  call  to  action  for  all  African  Capital  Markets  Regulators  and Exchanges to act collectively in favor of sustainable  development,  and  to  have  an  actual  impact on fostering Green Capital Markets in Africa.

It consists of engaging African Capital Markets Regulators and Exchanges to build a continental partnership, aimed at fostering Green Capital Markets in Africa, around a set of target voluntary commitments to be deployed and implemented over differentiated time horizons within respectively local markets and at the continental level.

Objectives

Through this partnership, African Capital Markets Authorities and Exchanges, individually and collectively as a coalition, aim to :

  • Enable the development of an effective ecosystem to support the establishment of Green Capital Markets in Africa ;
  • Promote Africa as a prominent region for green financial markets and an attractive destination for green and climate-resilient investments, by creating and implementing the necessary markets and regulatory mechanisms to allow for effective matching of demand and supply of green equity and climate-resilient investment opportunities in the region ;
  • Voice Africa’s Climate Finance concerns and priorities by ensuring that the global developments within capital markets and financial systems (i) do actually take into account regional economic and institutional disparities and address effectively both adaptation and mitigation issues in the African Continent, and (ii) are aligned with real economic structures across Africa, and contribute to achieve sustainable growth in African economies ;
  • Enable African-led innovative climate finance initiatives, both globally and for Africa, and the building of local climate finance knowledge and expertise amongst the Continent’s market players;
  • Create a venue for exchange, knowledge and experience sharing among African Regulators and Exchanges, and debate over climate finance and related institutional and policy innovations;
    Commitments to Action

Commitments to Action

The “Marrakech Pledge” signatories recognize that Africa is an important continent experiencing a solid economic growth paralleled with significant financing needs while offering huge opportunities for local, regional and international investors. Hence, today, Africa deserves and needs all the attention it can get, and more importantly it deserves to take charge of its own destiny.

In this context, they are committed to build a continental partnership of African Capital Market Authorities and Exchanges, and join efforts to act collectively based around a set of “Collective Commitments to Action” to be deployed and implemented over different time spans within respective local markets and at the continental level :

  • Enable the development of an effective ecosystem to support the establishment of green capital markets in Africa;
  • Support the development of green financial instruments and climate-resilient investment vehicles in Africa ;
  • Promote transparency and accessible information on green finance and climate resilient investments in Africa.

Signatories

The pledge is open to all African capital market regulators and exchanges to endorse on a voluntary basis. There are already twenty three (23) signatories to the pledge representing (25) countries including thirteen (13) regulators and ten (10) stock exchanges from all over the Africa.

domainRegulatory / Authority
account_balanceStock exchanges
domain
Regulatory / Authority
account_balance
Stock exchanges

The « Marrakech Pledge » for « Fostering Green Capital Markets in Africa » is a commitment by all African Capital Markets Regulators and Exchanges to act collectively in favor of sustainable development by enabling the establishment of Green Capital Markets in Africa with the aims to promote Africa as a prominent regional green financial marketplace and an attractive destination for green and climate-resilient investments.

WEBSITE MAP

  • The pledge
    • Presentation
    • Signatories
    • The Marrakech Pledge
  • Aligning Africa
  • Green Bonds
  • ESG Standards
  • News
  • Events
  • Publications
  • Insights
  • Resources
  • Useful links
  • Contact

KEEP POSTED









Secretariat of Marrakech Pledge 2016-2020

Secretariat of Marrakech Pledge 2016-2020

SitemapPrivacy Policy
© 2019 Marrakech Pledge. All Rights Reserved
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok