Bangladesh’s apparel sector wants funds to become socially, environmentally and economically sustainable. To make a factory safe for working, make it socially and environmentally compliant, huge investments are needed. But entrepreneurs need financing to do so at a competitive cost.
As of now, the country leads the list of green industries around the world with 101 LEED certified factories and more than 500 in the pipeline. But continuity of this success will depend on the commitment of stakeholders in finding ways to make the industry more sustainable. Despite Bangladesh’s progress in many aspects, buyers and customers want to see more improvement in the readymade garment sector especially in the areas of factory inspection, workers’ safety and fairness of labor practices.
The contemporary textile and readymade garment sector has been going through major changes with the emergence of technologies linked to the fourth industrial revolution, changing many conventional models of business in the sector. Meaningful exchange of knowledge can make sustainability easier to attain for manufacturing processes across the garment industry. Bangladesh is the second largest apparel exporter in the world. Though climate change is one impediment in the growth of the country’s apparel industry and its future sustainability, Bangladesh has one of the lowest per capita carbon emissions in the world.