PRESIDENT’S MESSAGE

The energy industry is rapidly evolving. TAQA Morocco, for this first ESG reporting year, is sharing with its stakeholders its understanding of this evolution and of the key trends marking it. This understanding underlies the definition and implementation of our strategic vision, which integrates all the relevant factors: economic, financial, technological, environmental, social and governance-related.

We are developing, in this message, a holistic vision that accords with GRI Standards
(102-14).

Our objective is to enable a transition to a reliable, resilient and sustainable mix. The challenges our industry is facing are both diverse and complex. While low-carbon processes are a major preoccupation going forward, it remains true that the safety of electrical production and continuity of service for business and residential customers are equally critical.

TAQA Morocco plays an important role as a strategic actor in electricity production in Morocco. We produce nearly 43% of Morocco’s electricity and we thereby provide support and resilience to the national electricity network through our substantial participation in base load supply, thanks to our expertise in this industry. The key to our current and future success is, of course, our collaborators.

We are investing in development and training, creating the conditions in which our collaborators can develop on both the personal and professional levels. These conditions also ensure that we can attract new talent.

We have also invested in dialogue with stakeholders for many years. This ESG reporting is the occasion to not only report back on that but to ensure that this dialogue is performed and aligned in accordance with international sustainability standards.

By relying on our stakeholders, we envision success in three major objectives: digitalization, energy transition, and the development of human capital.

In response to what climate change has put at stake, TAQA Morocco’s strategy is to support energy transition and energy efficiency. On the operational level, TAQA Morocco has made considerable progress with respect to controlling its environmental footprint through the storage and recycling of ash, the treatment of solid waste, air quality control and oversight of water quality.

Supported by a solid financial structure, TAQA Morocco is able to create ever greater and more sustainable value for its shareholders and stakeholders. That is why our 2021 strategic plan is based on unleashing our potential, our energies.

This energy liberation is at the front lines in the Covid-19 global health crisis, which the World Health Organization declared to be a pandemic on 11 March 2020. Our ESG report addresses that in a new chapter that we chose to dedicate to that topic. The measures we have taken, and those we will take, demonstrate our vigilance and resilience, as shown by the way in which our policies and processes adapt to pursue the creation of sustainable value for all of our stakeholders.

Good reading.


   

Abdelmajid IRAQUI HOUSSAINI
PRESIDENT OF THE MANAGEMENT BOARD



2019 was the year that confirmed the strength of TAQA Morocco’s business model; 2020 will be the year of resilience and sustainability performance.