We have been studying the carbon emission credits as a model of finance for the projects we are participating, putting together a task-team with valuable Iraqi and international experts. Finally very glad to inform that after a high-level meeting last Monday that included the Ministers of Oil, Electricity, and Environment, Prime Minister H.E. Sudani’s office made the announcement of the new company that will operate under the auspices of the Environment Ministry. Its primary responsibility will be to ensure that all energy projects in the country adhere to stringent regulations governing emissions and environmental impact.
Increasing concerns caused this decision over Iraq’s environmental challenges, notably in areas such as Basra, where the flaring of gas from oil wells has been a persistent issue.
The formation of the Carbon Economics Company signifies a shift in Iraq’s environmental policy, moving from reactive measures to a more proactive and structured approach. This initiative is expected to lead the way to more sustainable energy practices, thereby reducing Iraq’s carbon footprint and lessening the environmental impact of its oil and gas industry.
The establishment of the Carbon Economics Company represents a forward step in aligning Iraq with global efforts to combat climate change and protect the environment for future generations.
And again CONGRATULATIONS IRAQ!!
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