Bangladesh earned its first-ever revenue from carbon credits – permits that allow the owner to emit a certain amount of carbon dioxide or other greenhouse gases – way back in 2006, when the Infrastructure Development Company Limited (Idcol) registered its maiden clean development mechanism project with the United Nations Framework Convention on Climate Change. Since then, Idcol has sold a whopping 2.53 million carbon credits, raking in $16.25 million, equivalent to Tk170 crore at current exchange rates.
Most of this impressive carbon credit revenue came from improved cook stoves, while the remaining amount was generated from solar home systems.
Five brick manufacturers that adopted clean technology to halve coal consumption and produce eco-friendly bricks received nearly Tk3 crore in carbon revenue. Thanks to their use of the Hybrid Hoffman Kilns (HHK) technology between January 2018 and March 2020, these brick-makers were able to cut down carbon dioxide emissions by 65,603 tonnes.
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