AMMC: ESG reporting for Moroccan issuers
Manage your AMMC ESG report with Harnest
Since 2020, Moroccan issuers have been required to include an ESG report in their annual financial report. Circular No. 03/19 from the Moroccan Capital Market Authority (AMMC) sets out the minimum content: CSR strategy, materiality analysis, methodological note, and environmental, social, and governance indicators, including a three-year data set.
Harnest links every requirement of the circular to the corresponding GRI, ESRS, and ISSB data points, and structures the collection, justification, and validation of your AMMC ESG report.
Who is subject to AMMC ESG reporting?
Appendix III.2.M of the circular distinguishes between two levels of requirements:
- Issuers publish a full ESG report based on a recognized international framework.
- Alternative market issuers publish a simplified report covering: profile, CSR strategy, scope, and governance.
- Groups must justify any discrepancies between their ESG reporting scope and their consolidation scope.
Materiality, historical data, comply or explain: Harnest covers the circular
Harnest covers the entire AMMC ESG report: materiality analysis, methodological note, collection of E, S, and G indicators, three-year social history, explanations for non-adopted parts of the framework, report drafting and validation, and a complete audit trail.
Every AMMC requirement linked to your standard
Each requirement from Appendix III.2.M is linked to the corresponding GRI, ESRS, and ISSB data points, along with its owner and supporting evidence. Your "comply or explain" justifications for non-adopted parts of the framework are documented and tracked.
Harmonized data collection over three years
Headcount, workplace accidents, recruitment, departures: consistent definitions across all your entities, historical data preserved from one year to the next, and automated reminders.
A report ready for your annual financial statement
Collaborative drafting with AI-assisted writing, approval workflows, audit trails, and configurable access for your statutory auditors and external verifiers.
The circular requires you to demonstrate the impact of your CSR strategy on your economic and financial performance. In the steering module, your objectives and action plans are tracked throughout the year.
AMMC, GRI, ESRS, ISSB: Harnest adapts
Your ESG report is published alongside your financial statements and read by the same investors. Mappings between the circular and international standards are built into Harnest: data collected once feeds your AMMC report, your GRI, ISSB , and CSRD reporting for your parent company, with no re-entry required. Prepare your next report using structured data collection as soon as the financial year closes.