On October 18-19, Carbon Limits, together with Norwegian Petroleum Directorate and Norwegian Environment Agency have conducted a workshop in Amman under the Flare Reduction in Iraq project which is part of a broader cooperation between Norway and Iraq under the Oil for Development programme.
Representatives from both the Iraqi Ministry of Oil and the Ministry of Health and Environment actively participated in discussions on the environmental finance opportunities for flare reduction projects in Iraq. Critical eligibility criteria, importance of close collaboration between Iraqi institutions and a unified climate mitigation strategy, as well as broader challenges of climate and carbon finance were discussed.
Clear reporting of environmental and other benefits delivered by the project is one of the most important prerequisites for any environmental finance application. GHG impact assessment for a specific investment case was presented during the workshop and it was agreed that Carbon Limits team will continue to support the government of Iraq in exploring further opportunities for environmental finance of such investments in Iraq, i.a. by holding a training workshop on performing GHG impact assessment of flare reduction projects.