Iraq's Multi-Billion Climate Investment Plan

Iraq's National Investment Commission (NIC), in cooperation with the United Nations Development Programme (UNDP), has held a workshop to discuss the first phase of Iraq's National Climate Investment Plan (CIP) for 2025-2030, which was launched in July.

The meeting in Baghdad was attended by international organisations, diplomatic missions, the Ministry of Environment, and local and foreign investors.

NIC Chairman Haider Mohammed Makiya said the CIP is a government-backed roadmap to address the challenges of climate change, already impacting Iraq's water, agriculture, and environment. He noted that the first phase will focus on five tracks - energy and renewables, agriculture, industry, water, and innovation.

The plan will be financed through the Green Climate Fund (GCF), with an estimated range of US$1.3-3.3 billion, and by the International Finance Corporation (IFC). According to Makiya, Iraq attracted more than US$102 billion in investments (foreign US$64 billion, domestic US$36.8 billion) over the past two and a half years.

A second phase (2031-2050) will expand the focus to climate-related projects in industry, agriculture, transport, and energy.

During the event, UNDP's Mamnoor Rashid highlighted Iraq's international commitments, including the Montreal Protocol, the UN Framework Convention on Climate Change (UNFCCC), and pledges to end routine flaring by 2030.

The workshop concluded with recommendations to intensify cooperation with domestic and international partners and to finalise mechanisms for financing and implementation across all provinces.