Rahimafrooz, Bashundhara Paper sign accord on CDM
Friday, 8 October 2010
FE Report
Two local conglomerates have signed a Clean Development Mechanism (CDM) Service Agreement for developing carbon emission reduction projects.
This agreement between Rahimafrooz Renewable Energy Ltd. and Bashundhara Paper Mills Ltd. will open up horizons for private sector participation in CDM projects in Bangladesh.
With this agreement, Bangladesh Carbon, an initiative of Rahimafrooz Renewable Energy Ltd., will act as specialized CDM Project Developer and help ensure carbon revenues from various carbon emission reduction initiatives of Bashundhara Paper.
The agreement was signed by Mustafizur Rahman, Deputy Managing Director, Bashundhara Group and Niaz Rahim, Chairman, Rahimafrooz Renewable Energy Ltd Tuesday at Rahimafrooz corporate office in the city. High officials from both companies were also present at the contract signing ceremony.
Carbon emission is measured in tonnes of CO2 reduced from any project activity. The commercial unit of emission reduction is Certified Emission Reduction (CER). Bashundhara has taken energy saving initiatives which will reduce carbon emission from their project activities. It involves CO2 capture from the exhaust flue gas of generator at Bashundhara Paper Mills Ltd. which will be used in the manufacturing process of import substitute paper like carbonless paper, manifold paper, hard tissue and alu-foil based paper.
Two local conglomerates have signed a Clean Development Mechanism (CDM) Service Agreement for developing carbon emission reduction projects.
This agreement between Rahimafrooz Renewable Energy Ltd. and Bashundhara Paper Mills Ltd. will open up horizons for private sector participation in CDM projects in Bangladesh.
With this agreement, Bangladesh Carbon, an initiative of Rahimafrooz Renewable Energy Ltd., will act as specialized CDM Project Developer and help ensure carbon revenues from various carbon emission reduction initiatives of Bashundhara Paper.
The agreement was signed by Mustafizur Rahman, Deputy Managing Director, Bashundhara Group and Niaz Rahim, Chairman, Rahimafrooz Renewable Energy Ltd Tuesday at Rahimafrooz corporate office in the city. High officials from both companies were also present at the contract signing ceremony.
Carbon emission is measured in tonnes of CO2 reduced from any project activity. The commercial unit of emission reduction is Certified Emission Reduction (CER). Bashundhara has taken energy saving initiatives which will reduce carbon emission from their project activities. It involves CO2 capture from the exhaust flue gas of generator at Bashundhara Paper Mills Ltd. which will be used in the manufacturing process of import substitute paper like carbonless paper, manifold paper, hard tissue and alu-foil based paper.