In an era where the world is more conscious than ever, the clamor for sustainable practices to preserve our planet and protect humanity has reached a crescendo.
In the last decade, Bangladesh has made rapid social and economic progress. The World Bank (WB) and the Government of Bangladesh (GoB) have been working together since 1980 to promote the sustainable use of the environment and natural resources. WB is supporting the government to identify policies and investment options to consolidate the country's transition towards a green growth development pathway.
As part of global sustainability, Bangladesh has also worked successfully to implement the Vienna Convention and the Montreal Protocol, adopted to protect the ozone layer, following signing of the Protocol. Since 1990, it has passed all the stages of implementation of the Montreal Protocol in a timely manner and is complying with the obligations of the Protocol.
New global research conducted by the Economist Intelligence Unit (EIU), commissioned by WWF, shows a staggering 71% rise in popularity of searches for sustainable goods over the past five years.
The report titled "An Eco-wakening: Measuring global awareness, engagement and action for nature" shows a surge in consumer clicks for sustainable goods in high-income countries, such as the United States, United Kingdom, Germany, Australia and Canada. However, the trend goes beyond these economies and is accelerating in developing and emerging ones.
While sustainable and planet-friendly products used to be a niche market; today, that's no longer the case. The report - which analyzes data from 2016-2020 - measures engagement, awareness and action for nature in 27 languages, across 54 countries, covering 80% of the world's population. Public interest in and concern for nature has risen markedly (16%) in the past five years. People all over the world, particularly in emerging markets, are increasingly aware of the environmental planetary crisis, and this is affecting their behaviour in a new movement which has been dubbed as 'eco-wakening'.
Businesses too have undergone a profound transformation in their approach, realizing that their fate is inextricably linked to the well-being of both people and the planet.
We stand at a unique crossroads - the first generation to experience the dire consequences of climate change and the last with the opportunity to mitigate its effects. The impacts of industrialization on human health and the environment are clearer than ever, prompting a visible transformational shift across industries.
From fast food giants to soft drink manufacturers, we have witnessed substantial changes driven by the pursuit of sustainability.
Take Coca-Cola, for instance, a company that has reduced sugar content in its products to align with the imperative for healthier living. The introduction of recycling programs by major beverage companies is another significant step in minimizing environmental damage.
In the automotive industry, Tesla has revolutionized the landscape with electric vehicles, prompting traditional automobile giants to follow suit. This shift towards cleaner, more sustainable transportation is not only a technological marvel but also a testament to the industry's commitment to safeguarding the planet.
General Electric (GE) has made notable strides by investing in renewable energy, contributing to the reduction of greenhouse gas emissions. These investments signify a seismic shift in how even energy-intensive sectors are embracing sustainable practices.
Walmart, IKEA and H&M have moved towards more sustainable retailing, largely by leading collaboration across their supply chains to reduce waste, increase resource productivity, and optimize material usage. Walmart has pledged that, by 2040, it will have zeroed out emissions from all its vehicles and transitioned to low-impact refrigerants, IKEA is making strides to using only renewable energy across its value chain, and H&M has pledged to use 100% recycled or sustainable materials by 2030.
Hotels also have adopted eco-tourism and resource waste management practices, thereby curtailing unsustainable water and energy consumption. The hospitality industry's efforts in this direction underscore the pivotal role it plays in promoting responsible tourism.
These organisations have all made strong commitments to sustainability, in large part through transparency and addressing material issues. They are embarking on a more sustainable journey, and all firms should follow suit over the next decade.
Even the tobacco industry, long criticized for adverse human health effects of its combustible cigarette products, is gradually shifting towards innovative and safer alternatives. This change is driven by a growing realization that embracing healthier alternatives is not only a moral obligation but a necessary pivot for survival.
Businesses need to continue on this trajectory towards sustainability. Our world is at a crossroads, and the decisions we make today will determine the quality of life for future generations. It is no longer a choice between profit and planet, but a harmonious coexistence of both.
The current paradigm shift is encouraging, but it is imperative that it becomes a global movement, with all industries and businesses embracing sustainable practices, safeguarding both people and the planet. This is not just good business; it is our moral duty.
Let us seize the opportunity to create a world where the next generation can breathe cleaner air, drink pure water, and live in harmony with a thriving planet.
Dr. Badrul A. Chowdhury is Chief Life Science Officer, Smoke-Free Products, Philip Morris International