Manila:Coral Future, a consulting firm specializing in climate change and sustainability, has initiated its operations in Bangladesh. This move is in collaboration with Eelaia and Kayventures, aiming to assist industries in reducing carbon emissions, staying competitive, and generating revenue through carbon finance.
According to United News of Bangladesh, Coral Future provides services that include measuring greenhouse gas emissions, developing reduction strategies, and implementing projects that convert these reductions into carbon credits and renewable energy certificates. The firm, which has a global presence with focus areas in South and Southeast Asia, sees Bangladesh as a key market due to the country's target of reducing emissions by 20.31 percent below the business-as-usual level by 2035, as outlined in its Nationally Determined Contribution (NDC) 3.0.
The company's entry into Bangladesh is timely, as global brands and export markets are increasingly requiring Bangladeshi suppliers to measure and reduce their emissions. Coral Future offers customized solutions like carbon footprinting, greenhouse gas inventories, and carbon credit project development, with a focus on sectors such as textiles and garments, renewable energy, and waste management.
In the textiles and garments sector, Coral Future emphasizes carbon footprint assessments and energy-efficient solutions. For renewable energy, the firm aims to reduce dependency on fossil fuels through solar projects. In the construction sector, it promotes the transition to non-fired blocks and solar-powered plants. The firm also addresses energy efficiency in pharmaceuticals, agriculture, and waste management.
Coral Future collaborates with project owners and investors to assess carbon credit potential and facilitate project development and verification. Through its efforts in industrial decarbonization and carbon project development, the company seeks to help Bangladeshi businesses meet international standards, access green finance, and explore new revenue streams in the carbon market.