To Promote Carbon Finance/Coral Future launches operations in Bangladesh
Coral Future, a climate change and sustainability consulting firm with 20 years of experience in sustainability and carbon credit solutions, has launched its operations in Bangladesh in partnership with Eelaia and Kayventures to help industries reduce carbon emissions, remain competitive and generate revenue from climate action through carbon finance.
The firm helps companies measure their greenhouse gas emissions, develop strategies to reduce them, and implement projects that convert emission reductions into carbon credits and renewable energy certificates.
Its team of engineers, analysts, subject and safeguarding experts works with a global network of project developers, investors, MDBs, governments, end buyers and brokers.
Coral Future operates globally, with a focus on South and Southeast Asia, particularly Singapore, Thailand, Vietnam, Malaysia, Indonesia, India, and Nepal.
The firm's entry into Bangladesh comes as the country targets a 20.31 percent reduction in emissions below the business-as-usual level by 2035 under its Nationally Determined Contribution (NDC) 3.0, with two-thirds of the target conditional on international support, including carbon finance.
Global brands, export markets and lenders increasingly expect Bangladeshi suppliers to measure and reduce their emissions, creating growing pressure on manufacturers and exporters to adopt decarbonisation measures.
Coral Future offers tailored climate action solutions, including carbon footprinting, greenhouse gas inventories, Scope 3 emissions management across value chains, corporate net-zero strategies, supply-chain emission reductions, carbon credit project development, renewable energy certificates and initiatives to channel climate finance to grassroots communities.
In Bangladesh, the firm has identified textiles and garments, renewable energy, bricks and construction, pharmaceuticals, energy and households, agriculture, and waste management as priority sectors.
In the textiles and garments sector, its focus includes carbon footprint assessments, energy-efficient boilers and machinery, rooftop solar power and emissions reporting to meet global brands' requirements.
In renewable energy, including ground-mounted and rooftop solar projects, it aims to reduce fossil fuel-based electricity consumption, strengthen energy security and lower costs.
For the bricks and construction sector, its priorities include shifting from fired kilns to non-fired blocks and promoting solar-powered plants.
In pharmaceuticals, the focus includes carbon footprint assessments for export markets, energy-efficient cooling systems, improved utility management and solar power.
In the energy and household sectors, the firm focuses on reducing grid losses and gas leaks and promoting clean cooking solutions.
In agriculture, its priorities include water-saving rice cultivation, improved fertiliser use and solar-powered irrigation. In waste management, it focuses on composting and waste-to-energy solutions for cities and industries.
Coral Future also works with project owners and investors to assess carbon credit potential, develop projects, support national authorisation and registration, facilitate verification and issuance, and connect projects with investors and international credit buyers.
Through its two main areas of work — industrial decarbonisation and carbon project development — Coral Future aims to help Bangladeshi businesses reduce emissions and energy costs, meet international requirements, access green finance and develop new revenue opportunities through carbon markets.
Source: UNB