Towards a Better Future
Being a financial institution, IDLC is in a much better position to promote sustainable business practices among its stakeholder groups, especially our clients and employees. As such, IDLC has always been keen to commit its resources not only to maximize its own profitability, but also to offer better quality of life to both its internal and external stakeholder groups. As part of this practice, IDLC is renewing its commitment to contribute towards greater environmental and social sustainability by undertaking a number of initiatives in various areas. Initially staring within our own organization, IDLC will eventually reach out to its external stakeholder groups as well.
Traditional brick projects are the largest contributors of Green House Gas (GHG) in our country – accounting for 38% of Bangladesh's air pollution or approx. 9.81 million ton of CO2 per year. The Bangladesh Government and Development / Multilateral Agencies strongly endorse the restructuring of the Bangladesh brick sector through the promotion of newer Energy Efficient Brick Kiln (EEKs) technologies.
IDLC Finance Limited as part of its 'Green Financing' initiatives has arranged a syndication loan facility of BDT 390.51 million to set up an energy efficient ‘Tunnel Kiln’ brick project in Gazipur. The amount has been raised in participation with different banks/FIs where IDLC’s participation is BDT 100 million (excluding IDCP).The project will generate 30 million bricks per annum. The Tunnel Kiln technology is one of the most efficient technologies available in this sector which will ensure low carbon emission and qualify the project for carbon credits. IDLC Finance Limited is keen to invest in such and other CDM projects which have a positive contribution for the environment.
IDLC financed BDT 15.21 million to a modern and environment friendly brick manufacturing concern in Natore. Total cost of the project was around BDT 130 million. The factory has production capacity of around 60,000 bricks per day. The environment friendly technology used in the factory will save a lot of carbon emission. In this regard, the client has signed an Emission Reduction Transfer Agreement with IIDFC for selling carbon credit via UNDP.
IDLC has put strong focus on financing effluent treatment plants (ETPs). The adverse effect of liquid wastes from dyes and chemicals, created by many factories can be completely eliminated through ETPs; IDLC has disbursed a total of BDT 26 million for setting up effluent treatment plants in three RMG factories in Narayanganj and Narsingdi.
IDLC has disbursed a loan of BDT 5 million to a plastic recycling factory in Narayanganj. The factory produces accessories for school bags by using raw plastic materials from disposed plastic bottles.
IDLC financed BDT 3 million to an Organic Compost Project in Bogra. Through the project, two organic fertilizers, Vermin Compost and Tricho Compost are produced. The byproduct of Tricho compost is Tricho litter, which is also an eco friendly organic fertilizer. With the financing support of IDLC, a laboratory has been set up for nursing Derma, the very basic element for producing Tricho compost
IDLC disbursed loans amounting to a total of BDT 4.5 million for two companies based in Dhaka. Both the companies import solar panels and accessories required to install solar panels. One of the companies also sell solar energy efficient Table Fans. The products are certified by IDCOL, and mostly supplied to primary dealers and partner organizations of IDCOL.