Bangladesh Infrastructure Finance Fund Limited (BIFFL) has recently signed a letter of collaboration (LoC) with Future Carbon Energy Services (FCES) for inclusion of BIFFL financed green brick projects with Clean Development Mechanism (CDM) under the United Nations Framework Convention on Climate Change’s (UNFCCC).
The Project has already been registered with CDM in the name of National Programme for Energy Efficiency Improvement in the Brick Manufacturing Sector in Bangladesh (UNFCCC PoA Ref: 10355), said a press release from BIFFL.
S M Formanul Islam, CEO of BIFFL and Raden Siddiqui, Managing Partner of FCES signed the letter of cooperation on behalf of their respective organisations.
CDM encourages the developing countries to promote the projects that reduce greenhouse Gas emissions, and offers them to gain the benefits through creation of green jobs and entering new markets as well as strengthening ties between developed and developing countries.
Recognizing the environmental hazards of conventional chimney based brick kilns, as well as the environment friendliness of tunnel kiln, BIFFL is promoting green technologies in the brick sector. Revenues earned from CDM will encourage the brick manufacturers to invest in green technologies.