Baghdad, Iraq – May 23, 2025

At the First International Carbon Economic Conference held in Baghdad, Sharp Mind Global Ventures Inc. (SMGV) and the General Company for Carbon Economy (GCCE) officially signed a Memorandum of Understanding (MoU) to co-develop Iraq’s National Carbon Economy Ecosystem — a transformative framework to operationalize carbon markets, scale decarbonization, and attract international climate finance into Iraq.

The MoU was signed by Dr. Nadhir Aboud, General Manager of GCCE, and Maziar Rajabi, CEO of SMGV Inc., in the presence of Iraqi government representatives, international institutions, and climate market stakeholders. The agreement outlines a comprehensive strategy to build Iraq’s national carbon registry, develop digital MRV systems, enable Article 6 compliance, and facilitate voluntary and compliance market access for Iraq’s public and private sectors.

“This partnership marks a pivotal step in aligning Iraq’s economic ambitions with global climate frameworks,” said Dr. Nadhir Aboud. “We are proud to work with Sharp Mind Global Ventures in laying the regulatory, technological, and financial foundation for a functional carbon market.”

“SMGV is honored to contribute to this national mission,” added Maziar Rajabi. “Through this MoU, we aim to turn Iraq’s emission reduction potential into bankable assets, while ensuring transparency, investor confidence, and international alignment.”

Highlights of the MoU:

• Establishment of Iraq’s National Carbon Registry with international interoperability

• Deployment of digital MRV (Measurement, Reporting, and Verification) infrastructure

• Development of a carbon credit issuance framework for key sectors including energy, flare gas, renewables, and nature-based solutions

• Coordination of capacity-building efforts for local institutions and private project developers

• Design of mechanisms to support both voluntary and compliance carbon markets

This MoU builds on earlier achievements by SharpMind Global Ventures Inc., including its key advisory role in the launch of Iraq’s first carbon exchange franchise in May 2024, in partnership with Capturiant and the General Company for Carbon Economy (GCCE). These combined efforts underscore Iraq’s strategic move toward global carbon finance integration and its growing leadership in environmental governance.

The signing ceremony was a centerpiece of the First International Carbon Economic Conference, which brought together policymakers, investors, and technical experts to define Iraq’s carbon transition roadmap.

About SharpMind Global Ventures Inc.

Based in Canada, SMGV is a climate innovation and advisory firm specializing in carbon market systems, energy transition strategies, and ESG investment platforms in emerging economies. SMGV works closely with governments and institutions to structure bankable carbon programs.

About the General Company for Carbon Economy (GCCE)

GCCE is a government-owned company mandated to lead Iraq’s carbon economy development, reporting to the Iraq Development Fund. Under Dr. Nadhir Aboud’s leadership, GCCE is coordinating regulatory design, institutional development, and international cooperation on climate finance mechanisms.