Morocco Drafts Carbon Market Law to Regulate Emissions Trading and Attract Climate Finance

Morocco has published draft law 62.25 for public consultation, which would create a legal framework for a domestic carbon market. The legislation establishes a National Climate Transparency Committee, a digital transparency platform, and a dedicated carbon market registry to track credits and prevent double counting. It also sets licensing rules for validation and verification bodies, with fines ranging from 500,000 to 2,000,000 Moroccan dirhams for violations. The framework is designed to align with Article 6 of the Paris Agreement, requiring corresponding adjustments so that exported carbon credits are deducted from Morocco's own emissions ledger. This is intended to attract foreign investment in renewable energy and industrial decarbonization, especially in sectors like cement and phosphates. The success of the market will depend on how effectively the registry operates and whether the penalties and verification processes are enforced in practice.