Stantec Inc.

08/11/2022 | Press release | Distributed by Public on 08/11/2022 02:59

Stantec wins contract for climate risk strategy project in Morocco

The European Investment Bank (EIB) awarded the contract for a climate action project in Morocco to Stantec's International Development team in Belgium. The project will develop a climate risk strategy for Crédit Agricole du Maroc, a bank that provides funding for agriculture and agri-food sectors.

Since 2019, the EIB has been supporting agricultural and rural activities in Morocco through a loan of 200 million euros to Crédit Agricole du Maroc. In recent years, farming output and revenues have increasingly weakened due to severe drought and other weather-related events. To future-proof its portfolio, Crédit Agricole du Maroc intends to improve its capacity to understand and assess climate risks and opportunities.

Through the project, Stantec will provide the latest tools for evaluating financial activities against climate-related risks and identifying green finance opportunities. The team will prepare a process manual for setting up an evaluation and measurement system and deliver training courses to board members and employees of Crédit Agricole du Maroc.

"This project perfectly represents our passion and expertise as a team. Stantec has been designing climate-smart solutions for businesses and communities within and outside Europe," said Christophe Leroy, Climate Solutions Leader for Stantec's European operations. "We're especially delighted to bring this expertise to Morocco, a country where we have a long and successful history of building partnerships and working with different stakeholder communities."