According to the “Global Investment Trends Monitor 2023” report published by the United Nations Conference on Trade and Development (UNCTAD), Morocco ranks among the top ten developing economies in terms of attracting international investments in renewable energy between 2015 and 2022. The report highlights Morocco’s pioneering role in low-emission energy investments.
The report reveals that Morocco holds a significant share of over one-third (34%) of the total value of global renewable energy projects, particularly among the top ten developing and emerging countries. These countries include Brazil, Vietnam, Chile, India, Kazakhstan, Taiwan, Egypt, Mexico, and Indonesia.
With Taiwan leading the list, attracting 63% of renewable energy projects in developing countries, followed by Chile at 54%, Morocco secured the third position with a 34% share, as reported by Hespress. The report underscores the impact of Morocco’s National Renewable Energy Strategy, which has enabled the country to represent 3% of the total shares owned by the ten developing countries listed in the UN report.
The report also highlights the widening gap in sustainable investment, stating that “developing countries require annual investments of around $1.7 trillion in renewable energy.” However, these countries only attracted $544 billion in foreign direct investment (FDI) in clean energy last year. Despite a threefold increase in investments in renewable energy since 2015, the majority of funds went to advanced countries.