Climate- and Health-Friendly Household Energy Transition in Bangladesh
Feasibility Study Supported Through Consortium
Annual Carbon Emissions Expected to Be Reduced by 320,000 Tons
IBK Investment & Securities has expanded the foundation of carbon finance by participating in the Ministry of Trade, Industry and Energy's greenhouse gas reduction project in Bangladesh.
On July 10, IBK Investment & Securities announced that its consortium, formed together with EWC, had been selected for and completed an agreement regarding the feasibility study support project for the "2025 International Greenhouse Gas Reduction Project" conducted by the Ministry of Trade, Industry and Energy and KOTRA.
EWC, which leads the consortium, is a climate change response specialist company engaged in ESG (Environmental, Social, and Governance) management consulting, carbon neutrality strategy development, and domestic and international carbon credit registration projects.
The subject of the feasibility study is a greenhouse gas reduction project for climate- and health-friendly household energy transition included in the Bangladeshi government's "Clean Cooking National Action Plan."
This project aims to distribute 200,000 induction cooktops in the Khulna region of Bangladesh, replacing biomass-based cooking methods such as firewood and livestock manure, and reducing greenhouse gas emissions by 320,000 tons annually. It is also expected to improve residents' health by preventing indoor air pollution.
IBK Investment & Securities will be responsible for economic analysis, investment planning, and the issuance and supply of carbon credits, while EWC will handle local surveys, calculation of carbon emissions, and the development of monitoring plans.
Seo Junghak, CEO of IBK Investment & Securities, stated, "We will strive to provide a variety of carbon finance solutions that satisfy and promote both the government's carbon neutrality policy and corporate ESG management. Not only will we discover and nurture domestic SMEs with outstanding carbon reduction technologies and products, but we will also actively support their entry into overseas carbon markets."
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