The European Union's carbon border adjustment mechanism (CBAM) is expanding to include financial services, affecting Moroccan banks that operate across borders. Starting in 2026, banks must report and pay for carbon emissions linked to their cross-border transactions, according to EU regulations.
Morocco's banking sector, with significant ties to Europe, is particularly exposed. Banks like Attijariwafa Bank and BMCE Bank have subsidiaries in France and other EU countries, making them subject to the new rules. The measure aims to prevent carbon leakage by ensuring that financial services from non-EU countries face similar carbon costs as those within the bloc.
Industry experts say the impact will be gradual, with full implementation expected by 2030. Moroccan banks are now assessing their carbon footprints and adjusting compliance strategies. The move aligns with the EU's broader climate goals under the European Green Deal.
