Morocco and Norway strengthen carbon market cooperation

Morocco and Norway have signed a bilateral agreement to strengthen cooperation on carbon market mechanisms under Article 6.2 of the Paris Agreement, supporting joint climate action and renewable energy development.

The agreement was signed remotely by Morocco’s Minister of Energy Transition and Sustainable Development, Dr Leila Benali, and Norway’s Minister of Climate and Environment, Andreas Bjelland Eriksen.

The partnership establishes collaborative approaches using international carbon market mechanisms that allow both countries to generate internationally transferable mitigation outcomes (ITMOs), helping each nation meet its nationally determined contribution (NDC) commitments under the Paris Agreement.

A central element of the agreement is the implementation of a Generation-Based Incentive (GBI) programme designed to support the deployment of around 2GW of renewable energy capacity between 2026 and 2036, including battery energy storage systems.

The programme will focus particularly on complex or lower-profit renewable energy projects that require additional financial support through carbon market financing mechanisms.

The initiative is expected to reduce up to 10 million tonnes of carbon dioxide emissions by 2030 while strengthening Morocco’s position as a destination for green investment and climate finance.

Officials said the agreement would also support technology transfer, encourage private sector participation and create employment opportunities linked to renewable energy development and low-carbon infrastructure.

The deal reflects growing international cooperation on Article 6 carbon market frameworks, which are increasingly being used to channel investment into emissions reduction projects while supporting national climate targets.