UNDP is actively supporting Iraq’s participation at COP29 in Baku through its long-term collaboration with the government of Iraq. The importance of aligning climate projection with economic growth projection was discussed during the Finance, Investment and Trade Day in the session "Pathways for Climate Investment in Iraq: Transitional Phase I (2025–2030)." The event presented the findings of a study supported by USAID that examines the impact of climate change on Iraq’s economy and provides avenues to diversify economic development of the country while enhancing climate resilience and fostering strategic partnerships. 

The expert discussions that followed centered on 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. 

Panelists emphasized the current opportunities to diversify Iraq’s economy in conjunction with the strengthening of critical infrastructures in essential services such as 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 Amb. Fareed Yasseen (Until recently Iraq’s Climate Envoy and a former Senior Official at the UN Climate Change Secretariat), Dr. Haider Makkiyah (Chairman, National Investment Commission), Ms. Bayan Abdulrahman (Advisor to KRG PM), Mr. Mohammed Al-Najjar (Chairman of the Iraq Development Fund, Investment Advisor to the Prime Minister) 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.