Prime Minister Mohammed Shia al-Sudani confirmed on Thursday that the government has made significant strides in creating an attractive environment for investors and international companies, noting that the volume of investments in Iraq has reached $88 billion.

The Prime Minister’s Media Office stated in a statement received by the Iraqi News Agency (INA), that “Prime Minister Mohammed Shia al-Sudani received representatives of international companies  participating in the International Conference on Carbon Economics, which was held over the past two days in the capital, Baghdad, in the presence of the Minister of Environment, Minister of Oil and Chairman of Central Bank.

Decarbonization in the energy sector is critical for tackling climate change and achieving global sustainability goals. As one of the largest contributors to greenhouse gas emissions, the energy sector holds the potential to drive transformative change by reducing carbon emissions through cleaner, more efficient processes. This shift towards low-carbon energy not only addresses urgent climate challenges but also opens up new economic opportunities and aligns with global commitments, such as the Paris Agreement.

During discussions between Mr. Maziar Rajabi CEO of SMGV Inc with Ms. Bayan Sami Abulrahman, Senior Advisor to the Prime Minister of Iraq, we shared insights on our initiatives to support Iraq’s climate change efforts by addressing the challenge of gas flaring. Our conversation focused on strategies to attract foreign investment to transform gas flaring into a sustainable economic opportunity, aligning with Iraq’s climate goals and economic development plans. Reducing CO₂ and methane emissions by capturing flared gas is essential for Iraq’s climate policy.