21-05-2025
Iraq Launches First Carbon Economics Conference
By John Lee.
Iraq has launched its first International Conference on Carbon Economics in Baghdad on Tuesday, themed "Carbon for Development."
The event, organised by the Ministry of Environment in partnership with the General Company for Carbon Economics, brought together high-level participants from the Ministry of Oil, the Central Bank of Iraq (CBI), and international climate and energy stakeholders.
Oil Minister Hayan Abdul Ghani, speaking on behalf of the Prime Minister, affirmed that the oil sector is pursuing a deliberate strategy to reduce emissions and balance energy sustainability with green economic principles. He underscored the importance of flaring reduction and clean fuel development as priorities for the coming phase.
Environment Minister Dr. Nizar Helo Al-Askari said the conference represents a strategic shift in Iraq's environmental policy and reflects the government's commitment to a low-carbon economy. He highlighted the role of the General Company for Carbon Economics as the government's official executive arm to lead this transformation.
Central Bank Governor Dr. Ali Mohsen Al-Alaq reiterated the bank's support for green finance, affirming that carbon bonds are a key element of sustainable financing. He announced upcoming financial tools tailored to environmental and climate projects.
Dr. Mohammed Sahib Al-Darraji, head of the Diwani Order Committee on Carbon Markets, said the carbon company was established in response to government directives to activate environmental markets. A national roadmap has been developed with input from international partners.
Technical advisor Dr. Nadhir Aboud, General Manager of the General Company for Carbon Economics, said the conference marked a turning point for Iraq's carbon market, unveiling a legislative and institutional roadmap. He also stressed the role of digital and technical infrastructure in enabling Iraq's participation in global voluntary carbon markets.
Several cooperation agreements were signed during the event with local and international companies, including the UK's Olivine Group via the Environmental Defense organisation, Canada's Carbon i, UK-based BB Energy, RED, and Audubon, to strengthen technical and financial frameworks for carbon markets.
Specialised sessions addressed environmental policy, regulatory frameworks, inter-sectoral collaboration, and case studies from power, oil, transport, and waste sectors.
(Source: Ministry of Environment)
