Evaluating Green Investment Performance in Morocco: An Empirical Study on Policy, Environmental, and Economic Drivers

Abstract

This study investigates the performance of green investments in Morocco, focusing on their financial returns, environmental impact, and social contributions within the framework of the country’s sustainability and economic development goals. Drawing on Sustainable Finance Theory and the Triple Bottom Line (TBL) framework, the research examines five key influencing factors: government policies and incentives, investment challenges, environmental impact, investor confidence, and job creation. Primary data were collected through a structured survey administered to 225 participants, including policymakers, investors, and industry experts involved in green investment projects. The survey utilized a Likert scale format to assess perceptions of investment effectiveness and barriers. Quantitative methods, including descriptive statistics, multiple regression, and correlation analysis, were employed to analyze the relationships between these variables and green investment performance. The results reveal that environmental impact (β = 0.181, p < 0.01), job creation and economic impact (β = 0.155, p < 0.01), and investment factors (β = 0.119, p < 0.01) significantly enhance investment performance. In contrast, investor confidence has a negative effect (β = −0.322, p < 0.01), and government policies do not show a statistically significant impact. The model explains 74.7% of the variation in green investment performance (R² = 0.747). These findings underscore the need for stronger and more consistent policy implementation, targeted investment incentives, and a greater focus on job-generating sustainable projects. The study offers practical insights for policymakers and stakeholders aiming to advance Morocco’s green transition and promote sustainable development through more effective green investment strategies.