ESI Africa
As global heads of states prepare for the forthcoming COP22 next month in Marrakech, Morocco, a pre-meeting was arranged to discuss the agenda.
Hosted by the Moroccan Presidency of COP22 in Marrakech, the meeting, which welcomed ministers and representatives from 70 countries, aimed at finishing the preparation of the COP22 agenda, as well as planning the entry into force of the Paris Agreement on the 4th November, and the first meeting of the Parties to the Paris Agreement (CMA1) during the COP.
COP22 seeks increased buy-in
According to Climate Action, UNFCCC executive secretary Patricia Espinosa called the early entry into force of the Paris Agreement a “historic moment for people everywhere and for multilateralism.”
Representatives understand the need to establish the implementation of the Paris Agreement – before, and after 2020 – regarding capacity building and financial tools as well as rules for the implementation of the deal.
The COP22 President, Salaheddine Mezouar, Minister of Foreign Affairs and Cooperation of Morocco since October 2013, has encouraged the parties that have not ratified the Paris Agreement to do so during his opening remarks this week.
Mezouar said: “CMA1 in Marrakech will be an inclusive moment.”
The implementation of the National Determined Contributions (NDCs) is also a central worry, as well as engaging stakeholders from the private sector, Climate Action reported.
Minister Mezouar said: “Morocco wanted to set the example and therefore we have revised our greenhouse gas emissions reduction goal from 32% to 42% by 2030.”
COP21 President Segolene Royal said: “All the elements are in place for a successful COP22 in Marrakech.”
Financial backing
Earlier this month it was reported that three international banks committed their support towards the country’s energy efficiency drive.
Global financial institutions, namely the European Bank for Reconstruction and Development (EBRD), the Agence Française de Developpement (AFD) as well as the European Investment Bank (EIB) have announced their partnership to backing sustainable energy developments in the north African country.
Anadolu Agency reported at the time that the European Union Neighbourhood Investment Facility (EU NIF) will also be joining this partnership.
EBRD said in a statement that the banks will be providing a €35 million ($38 million) financing facility to BMCE Bank of Africa and its leasing subsidiary Maghrebail.
According to the Anadolu Agency, the finance line is the third under the Morocco Sustainable Energy Financing Facility (MorSEFF), which is a programme for sustainable energy investments through financial institutions.
“BMCE Bank of Africa will on-lend to small and medium-sized enterprises and corporates in the commercial and industrial sectors, including commercial construction and energy service companies,” EBRD said in a statement.
