21-05-2025
Minister of Environment: Carbon Projects Will Provide Additional Revenue for Iraq and Attract International Investments
Minister of Environment, Nizar Helo Al-Askary, affirmed today, Wednesday, that carbon-related projects will generate additional income for Iraq and attract major international investments. He also noted that the government has made environmental issues a national priority.
During the opening of the First International Conference on Carbon Economics, attended by an Iraqi News Agency (INA) reporter, the minister stated 'Iraq is facing major environmental challenges, including rising temperatures, low rainfall, water scarcity, and decreasing water levels in rivers and water bodies. These conditions have led to a noticeable decline in biodiversity and an increase in desertification, causing the displacement of rural and village populations, which could pose future social, political, environmental, and economic challenges for host areas.'
Minister Al-Askary explained that these factors prompted the Iraqi government to prioritize environmental concerns, adding 'One of the key achievements of Prime Minister Mohammed Shia Al-Sudani's government is the establishment of the General Company for Carbon Economics under the Ministry of Environment.'
He clarified that 'this company does not only issue carbon bonds but also works on implementing environmental improvement projects to preserve Iraq's ecosystem.'
He emphasized that Iraq is undergoing a renaissance across various sectors—urban, political, economic, and social—and that the outlines of an environmental renaissance are beginning to emerge. This comes in line with the Prime Minister's directives to increase and diversify public revenues across all ministries.
'With the concerted efforts of all parties, the Ministry succeeded in founding the General Company for Carbon Economics and is now working with national and international partners to attract global companies to invest in Iraq, which will contribute to generating additional income for the country,' he said.
The minister further noted that the ministry achieved a major milestone by securing the interest of international companies, including Olivine Global, which has pledged a first-phase investment worth £2 billion.
The First International Conference on Carbon Economics officially began today, Wednesday, and will continue from May 21 to 22 in Baghdad. The event is organized under the supervision of the Ministry of Environment, in cooperation with the Ministry of Oil and the Central Bank of Iraq, and under the patronage of Prime Minister Mohammed Shia Al-Sudani.
