Economy News – Baghdad
The Ministry of Environment has announced the initiation of the inaugural project for the Carbon Economics Company in collaboration with the World Food Program.
During a significant meeting held at the Ministry’s headquarters, the Environment Minister, If the military, unveiled the project aimed at cultivating mangroves in Basra, marking a pivotal partnership with the United Nations’ World Food Program.
In his address, the Minister emphasized the project’s importance as part of the Iraqi government’s commitment to enhancing environmental quality and promoting sustainable development. He noted that “the project represents a qualitative shift towards a green economy and contributes to diversifying the national economy through carbon revenues.”
The Minister acknowledged the support provided by United Nations programs in the environmental sector for Iraq, stating that “this support has fostered regulatory environmental initiatives in the country,” and expressed the Ministry’s desire to continue this productive collaboration.
Contributing to the remarks, Abdul Majeed Yahya, the representative of the World Food Program in Iraq, expressed enthusiasm for the project’s launch, asserting that “the program is fully equipped to extend comprehensive support to ensure the project’s success, which will benefit the environment and aid in achieving sustainable development in Iraq.”
Nazir Abboud, the technical advisor to the Ministry of Environment and director of the Carbon Economics Company, highlighted that “the mangrove cultivation project in Basra stands as one of the most significant environmental initiatives endorsed by the Iraqi government, designed to restore natural systems in the region and enhance Iraq’s position in confronting and adapting to climate change impacts.”
The announcement detailed that “the launch of this project aligns with the goals of the General Carbon Economics to integrate into global carbon markets and generate financial returns that support the national economy.”
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