The Iraqi federal government and the Kurdistan Regional Government (KRG) have announced their first Climate Investment Plan in Baghdad and Erbil, which aims to offer viable public and private investment opportunities to fulfill Iraq’s climate commitments for the period 2025-2030.
Iraq is classified by the UN as the fifth most vulnerable country to climate change, with temperatures increasing two to seven times faster than the global average.
Iraq announces its first Climate Investment Plan in Baghdad and Erbil.
— UNDP Iraq (@undpiniraq) May 23, 2024
The plan’s goal is to offer viable options for public and private investments to fulfill the climate commitments of Iraq into the investment strategies for the period 2025-2030.https://t.co/1qSsj7eAyE
The UN Development Program (UNDP) in Iraq in a press release said that this initiative aims to drive climate action and attract investment while creating a safe and secure environment for both foreign and local investors.
On May 16, 2024, Iraq’s National Investment Commission hosted a federal level event attended by several ministries, including the Ministry of Environment and the Ministry of Planning.
The second event occurred on May 19, 2024, in the Kurdistan Region and was attended by Chairman of the KRG Investment Board Mohammad Shukri and Advisor to KRG Prime Minister Masrour Barzani on Climate Change Bayan Sami Abdulrahman.
“Our Climate Investment Plan in the Kurdistan Region, launched in collaboration with the KRG Board of Environmental Protection and Improvement, the KRG Ministry of Planning, and the UNDP, extends to the year 2030,” Shukri said.
“This initiative aims to encourage climate investment in the region. We have formed a technical team from all sectoral bodies and from the Ninth Cabinet to develop a comprehensive and realistic strategy that integrates climate considerations into our investment plans.”
The Climate Investment Plan, which was developed with technical support from the UNDP and funding from the U.S. Agency for International Development, aligns with Iraq’s vision to promote climate action through a broader investment strategy.
Resident Representative for UNDP Iraq Auke Lootsma added that the UNDP believes in Iraq’s vision and is “ready to support all efforts facilitating climate investment and climate action in the country. This plan signifies a strong commitment to sustainable development and to secure a better future for Iraq.”
