Greater access to clean and affordable energy will be crucial for Bangladesh’s garment industry to remain competitive as European markets and global supply chains shift towards a low-carbon economy, EU Ambassador and Head of Delegation Michael Miller said.
Speaking at a recent Dhaka roundtable on apparel decarbonization, Miller said Bangladesh could combine its manufacturing strength with cleaner production to strengthen its position as a sustainable sourcing destination.
The event was jointly organized by HSBC Bangladesh, Apparel Impact Institute, the Embassy of Sweden and the EU Delegation.
Research presented at the event showed that Bangladesh’s apparel sector needs about $6.6 billion in investment to achieve 50% decarbonization by 2030.
Participants said reliable and competitively priced renewable energy could help manufacturers reduce emissions and energy costs while meeting the growing sustainability requirements of international brands. Greater access to clean energy could also help attract investment and strengthen Bangladesh’s position in global apparel sourcing.
