{"id":86950,"date":"2024-09-25T00:00:00","date_gmt":"2024-09-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/09\/25\/ifc-partners-with-iraq-on-seven-year-sustainable-finance-plan\/"},"modified":"2024-09-25T00:00:00","modified_gmt":"2024-09-25T00:00:00","slug":"ifc-partners-with-iraq-on-seven-year-sustainable-finance-plan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/09\/25\/ifc-partners-with-iraq-on-seven-year-sustainable-finance-plan\/","title":{"rendered":"IFC partners with Iraq on seven-year sustainable finance plan"},"content":{"rendered":"<p class=\"tag-border-left\">GREEN FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iraq + IFC launch sustainable finance plan:<\/strong> The International Finance Corporation (IFC) and the Central Bank of Iraq have partnered to develop environmental and social risk management guidelines and launch a seven-year Sustainable Finance Roadmap (2023\u20132029), according to a <a target=\"_blank\" href=\"https:\/\/www.ifc.org\/en\/pressroom\/2024\/ifc-and-central-bank-of-iraq-join-forces-to-improve-sustainable-financing-in-iraq\" style=\"\" rel=\"noopener\">press release<\/a>. The roadmap aims to improve Iraqi banks' performance in ESG areas, enhance financial stability, and introduce sustainable banking products. The ESG Code, developed with global standards, will strengthen the banking sector\u2019s competitiveness and support Iraq's broader sustainable development goals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">REMEMBER- Iraq is in the development stage for ESG pillars:<\/strong><span style=\"background-color: transparent;\"> The IFC\u2019s <\/span><a target=\"_blank\" href=\"https:\/\/www.sbfnetwork.org\/\" rel=\"noopener\">Sustainable Banking and Finance Network<\/a><span style=\"background-color: transparent;\"> members recently found that Iraq\u2019s banking sector was in the <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7b169377-368a-46a2-9671-5894c869a3fe\/sbfn-members-advance-esg-integration-and-sustainable-finance\" rel=\"noopener\">developing stage<\/a><span style=\"background-color: transparent;\"> for all three main pillars of sustainable finance \u2014 ESG Integration, Climate and Nature-Related Risk Management, and Financing Sustainability.<\/span><\/p>\n<p class=\"tag-border-left\">GREEN CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar introduces green cement to <\/strong><strong>boost circular<\/strong><strong> economy: <\/strong>Qatar\u2019s Ministry of Environment and Climate Change has launched a project to produce green cement from sewage waste, <a target=\"_blank\" href=\"https:\/\/www.qna.org.qa\/en\/News-Area\/News\/2024-09\/23\/0088-ministry-of-environment-announces-innovation-of-green-cement-to-support-circular-economy\" style=\"\" rel=\"noopener\">Qatar News Agency<\/a> reports. This initiative could reuse 40k tons of sewage sludge annually to produce 40 mn concrete blocks at a 10% cost saving compared to traditional cement or 150k cubic meters of foamed concrete with a 20% saving. <\/p>\n<p class=\"tag-border-left\">GREEN MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco and China National Building Material Group have signed a five-year agreement to<\/strong><strong> set up manufacturing facilities in the kingdom<\/strong> for wind turbine blades, hydrogen storage tanks, lower-carbon building materials, and energy storage, it said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/aramco-and-china-national-building-material-group-announce-strategic-collaboration-acmbient\" style=\"\" rel=\"noopener\">press release<\/a>. The pair will also create a training and inspection center and joint tech development center.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said<\/strong>: \u201cThis agreement envisages a wide range of cooperation that has potential to positively contribute to low-carbon development, while supporting further strategic alignment between China and the Kingdom.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stories on our radar this morning from around the region<\/p>\n","protected":false},"author":1,"featured_media":86951,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[67],"tags":[66,11,233,164,208,163],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseclimate","tag-green-construction","tag-green-finance","tag-iraq","tag-qatar","wpautop","entry"],"acf":{"mongo_id":"278301dd-3e3e-4319-b65a-184ca36c9121","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1897.jpg","photo_position":"above","homepage_title":"","full_issue_title":"IFC partners with Iraq on seven-year sustainable finance plan","related_issue":[86938],"teaser":"Stories on our radar this morning from around the region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.b2113b66-3255-41fe-9434-7f402c9e1ffb.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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