Can Bangladesh build a green economy?

As Bangladesh continues on its path of economic development, a fundamental question remains: how can sustainability be achieved in the process? The transition to greener economic models is not just an option but a necessity, as climate change poses significant threats to our world. Rising sea levels, extreme weather events, and environmental degradation disproportionately impact Bangladesh, making sustainable development even more urgent. A sustainable growth paradigm requires government officials, businesses, and industries to collaborate in finding new avenues for development while balancing economic progress with ecological responsibility.

Encouragingly, progress is underway. Bangladesh leads the world in green garment factories, with more than 200 certified facilities, setting an example for other industries to follow. Additionally, the government aims to generate 40 percent of its power from renewable energy sources by 2041, a critical step toward reducing dependence on fossil fuels. Investments in solar energy, wind power, and energy-efficient technologies have begun to reshape the country's industrial landscape, offering a glimpse of a more sustainable future.

However, challenges persist. High start-up costs, incomplete regulations, and a lack of incentives hinder widespread adoption of sustainable practices. Many businesses remain hesitant due to financial constraints and uncertainty about long-term returns. To address these concerns, policymakers must introduce stronger regulatory frameworks, offer financial support, and promote innovation in green technologies. Public awareness campaigns and education initiatives can also play a vital role in fostering a sustainability-driven mindset across industries and communities.

Businesses must view sustainability as an investment rather than an expense to ensure a successful transition. Global markets are increasingly prioritizing environmentally responsible practices, and companies that fail to adapt risk falling behind. The green economy is Bangladesh's key to global competitiveness, and new developments in sustainable management will test society's readiness to take on leadership roles. If Bangladesh can overcome these obstacles and fully embrace sustainability, it has the potential to become a model for emerging economies worldwide.

Md. Nazmus Sakib Abir

Bachelor of Business Administration

North South University

nazmus.abir@northsouth.edu