Coral Future Launches Operations to Promote Eco-Friendly and Sustainable Development

International consulting firm Coral Future has started its work in Bangladesh to support eco friendly and sustainable development. The company will work to cut carbon emissions in different industrial sectors, reduce energy costs and increase chances of climate finance. In partnership with Eelaia and Kayventures, it will also help create new income through the carbon market. UNB reported this in a story yesterday.

Coral Future helps companies measure their greenhouse gas emissions and decide how to reduce them. It also helps them carry out emission reduction projects. The firm develops projects that can produce carbon credits and renewable energy certificates. It also works to create chances for climate finance.

The firm begins work at a time when Bangladesh is trying to face the effects of climate change and cut greenhouse gas emissions. Under its third Nationally Determined Contribution (NDC 3.0), the country aims to cut emissions by 20.31 percent by 2035 compared with the usual level. It plans to achieve 6.39 percent of this cut on its own. The remaining 13.92 percent needs international support, including climate finance.

Coral Future has named garments and textiles, renewable energy, bricks and construction, pharmaceuticals, energy and households, agriculture, and waste management as its priority sectors. It will help companies in these sectors cut carbon emissions, use energy better and improve environmental standards.

In garments and textiles, the firm plans to help with measuring carbon emissions, using energy saving boilers and machines, and setting up rooftop solar power. It also plans to help prepare emission reports as international brands demand. In renewable energy, it will focus on developing ground mounted and rooftop solar projects. This will reduce the use of fossil fuel based electricity, improve energy security and cut costs.

In bricks and construction, the firm will help companies use blocks that need no burning instead of burnt bricks. It will also help set up factories run on solar power. In pharmaceuticals, it will work on assessing carbon emissions, energy saving cooling systems and better utility management. It will also push for more use of solar power.

In the energy and household sector, the firm will work to reduce losses in power transmission and distribution and to cut gas waste. It will also work to expand clean cooking technology. In agriculture, it will focus on water saving rice farming, efficient use of fertiliser and irrigation run on solar power. In waste management, it plans to develop projects for compost production and fuel production from waste in cities and industrial areas.

Coral Future will also be involved in checking the potential of carbon credit projects and developing them. It will help with national approval and registration, verify emission cuts and work on issuing credits. The firm will also help connect project owners with investors and international buyers.

A carbon credit is recognition of reducing or removing a set amount of greenhouse gas emissions. After it is verified under the applicable standards, it can be traded in the market. Through this system, emission reduction projects may find funding, and project owners can earn income from the carbon market.

Coral Future will work in Bangladesh with two main focus areas, which are cutting industrial carbon emissions and developing carbon projects. Through this, the firm aims to help businesses reduce energy costs, meet international environmental conditions and make use of green finance opportunities.