Moroccan railways secure 2bn dirham green funding
The National Railway Office of Morocco (ONCF) has successfully completed a landmark green bond issuance of 2 billion dirhams (MMDH), marking a significant step toward its 2035 carbon neutrality goal. This latest financial operation, managed by CDG Capital, garnered exceptional market interest with a subscription rate of 5.25 times, attracting 10.49 MMDH in demands.
Building on its initial one billion dirham green bond issuance from July 2022, ONCF has demonstrated its strengthened commitment to environmental sustainability. The organization has already achieved notable progress in its decarbonization efforts, with 90% of its electric trains now powered by wind energy, up from 25% in January 2022.
The newly raised funds will support environmentally beneficial projects aligned with ONCF's Green Bonds Framework, focusing on renewable energy development, sustainable mobility enhancement, and energy efficiency improvements. The initiative has received backing from Moroccan institutional investors and the European Bank for Reconstruction and Development (EBRD), highlighting the international recognition of ONCF's sustainable transport initiatives.
ONCF's environmental strategy encompasses comprehensive measures, including the progressive ISO 14001 and 50001 certification of railway sites, annual carbon footprint assessments, and systematic impact studies for major projects. These actions reinforce the organization's position as a key player in Morocco's railway sector and its commitment to sustainable transportation.
The successful bond issuance demonstrates the market's confidence in ONCF's environmental strategy and supports its mission to provide environmentally responsible transport services while working toward complete carbon neutrality by 2035.
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