PM's Advisor: Initiating procedures for establishing the Carbon Economic Company

Baghdad - INA

The Advisor to the Prime Minister for Technical Affairs, Muhammad Sahib Al-Daraji, announced today, Saturday, the initiation of procedures for establishing the General Carbon Economic Company in accordance with the decision of the Council of Ministers, while noting the importance of the company.  

Al-Daraji said to the Iraqi News Agency (INA): “The Council of Ministers issued a decision in which it approved the establishment of the General Carbon Economic Company affiliated with the Ministry of Environment,” indicating that “this decision came in order to develop certificates of carbon and buried gases, issue them, and market them through an internationally accredited platform.” . 

He added, "95 percent of the profits of the General Carbon Economic Company will go to the public treasury," noting that "the project was presented at the World Climate Conference, and it is now in the establishment procedures." 

He pointed out that "there is a directive to form specialized committees in all ministries to reduce carbon, in addition to the existence of international partnerships that took place during the visit of the Iraqi delegation to the  Cop28 climate conference in Dubai," stressing that "all ministries will be supportive and supportive."

Prime Minister Muhammad Shiaa Al-Sudani had directed the establishment of a public company for carbon economics.

The Prime Minister's Media Office stated, in a statement received by the Iraqi News Agency (INA), that "Prime Minister Muhammad Shia al-Sudani chaired a special meeting on carbon emissions, attended by the ministers of oil, electricity, and environment, energy advisors, and specialists in this sector."

He instructed the Ministry of Environment to “require ministries and private sector companies to follow specific instructions regarding carbon emissions,” stressing that “the implementation of these instructions must be followed up by the relevant authorities.”