Economy Yesterday, 18:05
Baghdad - IA
Advisor to the Prime Minister for Technical Affairs, Muhammad Sahib Al-Daraji, revealed the goal of forming a public company for carbon economics based on the direction of Prime Minister Muhammad Shiaa Al-Sudani, indicating that work in this field will provide significant financial funding for Iraq after implementing environmentally friendly projects.
Al-Daraji said to the Iraqi News Agency (INA):
“Iraq is a signatory to the Paris Climate Agreement, which stipulates that carbon emissions must be reduced around the world, and
in Iraq our carbon production is basically low, and
the agreement required countries with increased carbon emissions to buy their bonds from countries capable of starting.” With projects that reduce carbon production, such as Iraq, given that the atmosphere around the world is the same and every country does its best to reduce emissions.” He added,
"Achieving this goal for Iraq requires implementing environmentally friendly projects, including using gas to generate electricity, as well as generating it through solar energy instead of diesel, as well as expanding tree planting and other projects, as they will reduce carbon emissions.
In return, this work can be priced in the form of bonds sold to countries."
“It is unable to reduce carbon emissions due to its existing projects and therefore buys these bonds from Iraq and other countries that contribute to reducing emissions around the world.” He continued,
"A committee was formed under my leadership and began the first project at this level, which was extending a pipeline from a gas station to an electricity station.
The project was implemented by a Canadian company at its own expense after contracting with the Ministry of Oil in exchange for buying carbon bonds from Iraq." He stressed,
"On this basis, a proposal was presented to establish the General Company for Carbon Economics, affiliated with the Ministry of the Environment and carrying out the task of trading in carbon bonds.
The Prime Minister approved it, and this company was formed.
The work requires the implementation of more environmentally friendly projects, and Iraq's success in achieving the goals that we have indicated will save sums of money." Very large".
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