Businesses seek incentives for eco-friendly industrialisation

Leaders of the trade bodies and high-ups of the business conglomerates, at a workshop in Dhaka, asked for government incentives to facilitate eco-friendly industrialisation.

At the event titled "Natural Resources Conservation in Bangladesh: Scope of Private Sector Engagement", they reached a consensus to ensure the conservation of natural resources through their business practices.

Sustainable development requires maintaining a balance between the environment and industrialisation, they added.

The business leaders also urged global buyers to pay fair prices for clothes produced in environment-friendly factories, said a press release. 

Under the USAID's Green Life Project, the Arannayk Foundation organised the workshop at a city hotel on Saturday.

Muhammad Khan, director of the Economic Growth Office, USAID Bangladesh, said the participation of entrepreneurs in the workshop and their opinions will play a critical role in combating climate vulnerabilities.

Recalling the contribution of the private sector to Bangladesh's economic development, he said the development of the private sector has reduced the country's dependence on foreign assistance.  

Md Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said except for having social recognition for his environment-friendly factory, there is no positive impact on business profitability.

Md Shahidullah Azim, vice president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said, Bangladesh is the most preferred market for international buyers of eco-friendly clothes. At present, there are 195 lead-certified garment factories in the country.

Rakibul Hasan Mukul, executive director of Arannayk Foundation, said ensuring harmony between the environment and business profit practices is a key to sustainable development.

He also urged all stakeholders to come forward to tackle the climate crisis.

In his keynote paper, Masud Alam Khan, head of programmes of Arannayk Foundation, said almost every year a quarter of the country is flooded. It will not be possible to maintain the country's economic progress if the extent and severity of natural disasters are not reduced. This requires intensive involvement of the private sector in the conservation of the environment and ecology.

Syed Moazzem Hossain, director of the Federation of Bangladesh Chambers of Commerce and Industry, stressed government policy support to make the private sector more engaged in conserving natural resources.

Shiblul Azam Koreshi, president of the Tour Operators Association of Bangladesh, urged the government to use the media effectively to create awareness of conducting responsible business practices.

Shamima Akhter, director of Unilever's corporate affairs and communication department, urged the government to formulate policies to support the production of environment-friendly products.