2025-05-22T15:51:01+00:00
Shafaq News/
Iraq’s newly established Carbon Economy Company has received a wave of project
proposals from both local and international firms to reduce carbon emissions
and improve the country’s environmental conditions.
Nadhir
Fazaa, Advisor to the Ministry of Environment, revealed on Thursday that the
company—formed by a 2024 Cabinet decision—has officially begun operations
following the launch of Iraq’s first international conference on carbon
economics in Baghdad.
“We’ve
received numerous proposals from companies in the US, UK, Norway, China, India,
and others,” Fazaa told Shafaq News. “Work is ongoing to finalize agreements
and sign partnership contracts focused on environmental improvement and carbon
reduction.”
He explained
that the Environment Ministry will oversee the registration of these projects
and issue carbon credit certificates as part of Iraq’s emerging carbon market
framework.
The
announcement comes a day after Mohammed Sahib al-Darraji, Advisor to the Prime
Minister, proposed establishing a regional carbon credit exchange led by
Iraq—an initiative he said could generate up to $100 billion in revenue over
the next decade.
