Investment from the private sector in eco-friendly or green technology is the key to the green transformation of business and enterprises in the country. A scale-up of green investment will not only ease the impact of climate change but will also promote sustainable economic growth and generate employment in Bangladesh.
Economists, trade analysts, and business leaders made the remarks at the Green Development Conference and Green Tech Expo 2018, organized by NeoSTAR on 29 March at KIB complex in the capital.
Dr. Atiur Rahman, Former Governor of Bangladesh Bank said, “It is essential to make parallel the finance system with sustainable development strategy of the country so that private sector investors get access to required finance.”
“Though the banking sector was trying to focus on eco-friendly business practices, the majority of investment must come from the private sector,” he said.
He also said, “To promote eco-friendly activities through green financing strategy Bangladesh Bank is providing policy support and created a Tk 200 crore fund. Another fund of $200 million has been created to transform the readymade garments (RMG) and leather industry into green factories.”
“Technology is the key to green development and it will accelerate economic growth curbing energy consumption, said Mikael Hemniti Winther, Danish Ambassador to Bangladesh.
“Bangladesh and Denmark have similarities in lacking natural resources. Therefore, we have to develop a new system for green growth and we need to be cautious about using energy,” added Mikael.
Bangladesh RMG sector has established eco-friendly factories despite challenges to produce clothes for global buyers. Proper policy support and right incentives from the government will foster the growth of this kind of green factories, said Fazlul Hoque, Managing Director of Plummy Fashions Ltd.
“Now, Bangladesh has the highest number of green factories in the apparel sector, the policy is must for green revelation as it shows the paths,” said Faruque Hassan, Senior Vice President of BGMEA.
More than 400-megawatt energy could be generated in two or three years if rooftop solar energy project is started working properly, added Faruque Hassan.
According to the U.S. Green Building Council (USGBC), Bangladesh has now 67 LEED (Leadership in Energy and Environmental Design) certified green factories, of them 13 are LEED Platinum rated while more than 280 factories are registered with USGBC for LEED certification.