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Toronto Centre and Capital Markets Authority of Morocco Lead Workshop on Implementing Green Capital Markets by Examining the Governance and Supervisory Implications

November 4, 2019 GMT

RABAT, Morocco, Nov. 04, 2019 (GLOBE NEWSWIRE) -- The Moroccan Capital Market Authority (AMMC) is co-organizing together with Toronto Centre on Monday, November 4th and Tuesday, November 5th, an informative and interactive workshop entitled “Implementing Green Capital Markets.”

This event comes around the third anniversary of the “Marrakech Pledge”, an initiative launched by the AMMC on the sidelines of COP22, endorsed by 23 signatories (Regulators and Stock Exchanges) representing 25 African countries, committed to team up for the development of green finance in Africa.

The organization of this highly interactive workshop mirrors the AMMC’s commitment to build up a sustainable finance and is a key step to enable the “Marrakech Pledge” through regulators and market operators capacity-building coupled with boosting experience sharing at a continental level.

Hosted by high-level speakers and experts from Toronto Centre, this event brings together over 30 representatives of capital markets regulators and Stock Exchanges as well as representatives of international agencies active in the field of green finance.

The agenda is to feature discussions around all the aspects with regard to the implementation of green capital markets in Africa, including the regulatory and supervisory aspects, the taxonomy of green and sustainable projects, the supervision and support of green bond issues, etc.

At the end of the program, a “White Paper” compiling the best practices identified at the workshop and a set of recommendations for optimal implementation and development of green capital markets will be published. The “White Paper” aims to present a medium-term plan for consolidating the greening of capital markets in Africa and strengthening regional partnerships in the field of sustainable finance.

Nezha Hayat, Chairperson and CEO, Moroccan Capital Market Authority said: “Since 2016 we have been committed to promote green finance in the African continent. As part of our engagement, we aim in this event to provide capacity building for high level representatives from the region. In collaboration with the Toronto Centre, we are delighted to establish an action focused White Paper on next steps to build green capital markets and to foster regional partnerships.”

Babak Abbaszadeh, President and CEO, Toronto Centre said: “Climate risk is an emerging priority for financial policymakers, standard setters, regulators and supervisors, and market practitioners. Toronto Centre applauds AMMC’s leadership in implementing the Marrakech Pledge.”

LEARN MORE

www.ammc.ma

Acting as the Financial Market Authority, the AMMC was established by “Dahir”, (Royal Decree) establishing Law No. 1-13-21 bearing Law No.43-12 and whose mission is to:

-- Ensure the protection of savings invested in financial instruments; -- Ensure equal treatment of investors, transparency and integrity of the capital market and of the investors’ information; -- Ensure proper functioning of the capital market and ensure the implementation of legislative and regulatory provisions; -- Ensure control of the activity of different organizations and persons subject to its control; -- Ensure compliance with laws and regulations related to the fight against money laundering by individuals and institutions subject to its control; -- Contribute to promoting financial education for savers; -- Assist the government in the regulation of the capital market.

www.torontocentre.org

Established in 1998, Toronto Centre for Global Leadership in Financial Supervision (Toronto Centre) is an independent not-for-profit organization that promotes financial stability and access to financial services globally. Our mission is to provide high quality capacity building programs for financial supervisors and regulators, primarily in emerging markets and developing countries. We believe that for countries to thrive, their financial systems must be stable and inclusive. Our mission supports sustainable growth and job creation and helps to reduce poverty by helping to build these economic foundations. In turn, stable, sustainable economic growth is a vital enabler of infrastructure investments, strengthening international trade and reducing poverty as confirmed by the UN 2030 Sustainable Development Goals and the Addis Ababa Action Agenda, Financing for Development. Since our inception, we have trained more than 12,000 supervisors and regulators from over 190 jurisdictions. Toronto Centre is supported by Global Affairs Canada, the International Monetary Fund, Swedish International Development Cooperation Agency (Sida), Comic Relief, Jersey Overseas Aid, and other valuable international partners.

For more information, please contact:

Dania Bouhlal,Head of Communication Department, Moroccan Capital Market Authority, AMMCTél : +212 5 37 68 89 15 - Gsm : +212 7 07 29 19 31 - Fax : +212 5 37 68 89 46 | dania.bouhlal@ammc.ma

Diana Bird,Communications and Special Projects Coordinator, Toronto CentreTel: +1 416-943-9300 x 226, Gsm: +1 647-993-3809 -Fax: +1 416 943-4800 | dbird@torontocentre.org