Mauritius

The Finance (Miscellaneous Provisions) Act 2021

Legislative

Act

Passed in 2021

This Act sets Mauritius' budget for the fiscal year 2021-2022. It amends existing legislation to insert climate-related clauses. It notably 1) grants to the Bank of Mauritius the ability to issue guidelines, directives, rules or instructions regarding the framework for the issue of sustainable bonds, including blue and green bonds (by amending the Bank of Mauritius Act), 2) improves the legal framework to support the production and use of renewable energy sources, including biomass.

The Prime Minister's budget speech announced a coal use phase-out by 2030, but this is not reflected in the Act itself.

Documents

Climate targets in this law

4 targets

Set up 10 Gas Insulated Switchgear (GIS) substations to improve reliability and increase the share of renewable energy;

Energy | Target year: 2030
Raise tenfold the absorption capacity of intermittent renewable energy through increased battery capacity to some 40 MW from the current 4 MW

Energy | Target year: 2030
phase-out all coal by 2030

Energy | Target year: 2030
produce 60% of energy needs from green sources by 2030

Energy | Target year: 2030