Green growth is must for the country as the green initiatives ensure better use of natural resources, strengthen the confidence of investors, create market and reduce fiscal burden.
Speakers opined it at a seminar titled ‘A High-Level Dialogue on Green Growth’ organized by the Metropolitan Chamber of Commerce and Industry at the conference hall of chamber in the capital. They also emphasized on renewable energy, water efficiency and air pollution control for achieving growth.
“The government should come up with policy for green growth considering the climate change issue, otherwise the country would get 1.3 per cent less GDP growth,” said Masrur Reaz, Programme Manager of International Finance Corporation.
Masrur emphasized on building awareness on green growth and said that it was a great news for Bangladesh that country’s readymade garment factories were going green.
“Lack of right policy support is the main challenge for solar revolution in the country,” Munawar Misbah Moin, Managing Director of Rahimafrooz solar, said.
He said that it was the government’s target to generate 10 percent of total power from alternative renewable sources by 2020 but there was no specific policy to do so.
Munawar said that to meet the target private sector would have to play the key role but the private sector people were yet to jump up to the solar sector due to lack of policy. Financial institutions are still in hesitation over financing the solar sector, he added.
Fazlul Hoque, Managing Director of Plummy Fashions, said Bangladesh’s readymade garment sector was now the champion in green initiative. “Mindset of the entrepreneurs is the key problem for going green,” he said.
Mohammed Nasir, Vice-President (Finance) of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said that most of the RMG factories had been introducing exhaust gas boiler, waste heat recovery, co-generation, energy efficient technology, energy management system and waste-to-energy boiler.
A total of 67 LEED-certified green factories have been installed in the country while 280 others have been registered with The US Green Building Council for LEED certification, he said.
Nasir also emphasized on water efficiency and apprehended that the sector would not get required amount of water for doubling export as the ground water level was going down by two metres every year.
Shwapna Bhowmick, country head of Marks & Spencer (Bangladesh and Myanmar), said that Bangladesh was the biggest sourcing country as well as the slowest sourcing country.
For making the green concept sustainable, Bangladesh should go for high value-added products with short lead-time, she added.
MCCI president Nihad Kabir said that Bangladesh would have to reinforce its commitments in the areas of cleaning up air quality and reducing greenhouse gas emission as the country ranked 179 in the environmental performance index out of 180 countries.
“We need to work around the challenges of green growth. With proper planning and execution, many of the desire objectives could and should be achieved,” she said.
Among them, Infrastructure Development Company Limited (IDCOL)’s CEO, Mahmud Malik and other senior officials were also present.