Morocco bids to axe fossil fuel subsidies in climate pledge | RTCC
Morocco’s recent climate pledge includes a further reduction in fuel subsidies:
Morocco, a desert kingdom that imports 90% of its energy, vowed to slash fossil fuel subsidies as its delivered its carbon-cutting pledge on Friday.
The first Arab country to submit an “intended nationally determined contribution” in the UN lexicon, it will target up to a 32% cut in 2030 greenhouse gas emissions from business-as-usual levels.
Slashing subsidies for oil and gas will be one of four main levers in overhauling its dirty energy sector, together with boosting renewables and ramping up imports of lesser-polluting natural gas.
“The main objectives behind this transformation are… substantially reducing fossil fuel subsidies, building on reforms already undertaken in recent years,” the UN submission read.
It is the 40th nation to put forward its draft climate action plan, with more than a hundred still to come. These will form the foundations of a global climate deal set to be agreed in December…[full story]