Iraq charts climate investment pathways at COP29 to drive resilient economic growth
Shafaq News/ The United Nations Development Programme (UNDP) is playing a key role in supporting Iraq's participation at COP29 in Baku, building on its long-term collaboration with the Iraqi government to address climate change, the UNDP said.
One of the central discussions during the Finance, Investment, and Trade Day was the session titled “Pathways for Climate Investment in Iraq: Transitional Phase I (2025–2030),” which focused on aligning Iraq’s climate and economic growth projections.
The session presented findings from a USAID-supported study, which the UNDP helped facilitate. According to the UNDP, the study assesses the impact of climate change on Iraq’s economy and identifies pathways for diversifying its economic development. The goal is to enhance climate resilience while fostering strategic partnerships to support sustainable growth in Iraq.
The expert discussions, according to the UNDP, emphasized a phased approach to “climate mitigation and adaptation beginning with key transitional priority investments during the period 2025–2030 that overcomes sector-specific vulnerabilities and the introduction of diversified clean energy sources, laying the groundwork for a comprehensive investment strategy to be implemented from 2030–2050.”
The UNDP noted that the discussions also underscored the current opportunities to diversify Iraq’s economy by strengthening critical infrastructure, especially in the sectors of water, energy, food, and housing.
“The dialogue further highlighted the role of public-private partnerships in scaling up investment opportunities aligned with Iraq’s Nationally Determined Contributions (NDCs) to the Paris Agreement.”
The panel which featured Dr. Fareed Yassin (Iraq’s Climate Envoy and the Head of Delegation), Dr. Haider Makkiyah (Chairman, National Investment Commission), Ms. Bayan Abdulrahman (Advisor to KRG PM), and Mr. Auke Lootsma (UNDP Resident Representative) specifically addressed the necessity of multi-stakeholder collaboration and actionable pathways for a just and fair climate-resilient transformation of Iraq’s economy, the UNDP said.
