Wednesday, 20 October, 2021

Bangladesh RMG to adopt change for sustainable transition

  • Staff Correspondent
  • 6 October, 2021 12:00 AM
  • Print news

Bangladesh apparel industry has potentiality to adopt the change towards sustainable transitions to address the changing consumers’ behaviour due to corona pandemic, experts said at a webinar of HSBC Bangladesh on Tuesday.

Speakers also discussed the way for businesses to adapt the demand for sustainable supply chains.

The United Kingdom-based organised the first of the sustainable series webinar on transitioning towards a circular economy for the apparel sector.

Over 100 participants including businesses and bankers from Asia Pacific region took part in the meeting virtually, according to a release of HSBC.

Speakers mentioned that the sustainable fashion has gained momentum and consumers’ increased conscientiousness is transforming how the apparel industry operates across the world.

Circular fashion industry is a fast-growing movement to reuse and recycle all materials, eliminating waste and pollution and regenerating the environment.

Kontoor Brands Director Gihan Palihena, Hirdaramani Group Director Nikhil Hirdaramani, Envoy Textiles Chairman Kutubuddin Ahmed, Epic Group Founder and Executive Chairman Ranjan Mahtani, HSBC Bangladesh Chief Executive Officer Mahbub ur Rahman and Country Head of Wholesale Banking Kevin Green spoke at the meeting.

HSBC enterprise solution head Lindsey Hermes, international market’s regional head Laura Galvin and senior analyst Lucy Acton also connected to the webinar.

The sustainable trends are signaling a transformation of the retail landscape and major shifts in the demographics of consumption.

HSBC Bangladesh Managing Director Mahbub ur Rahman said the institute is committed to the transition to a global net-zero economy in next thirty years as a responsible global bank.

“With a goal to ensure sustainable fashion and encourage a circular economy, we look forward to partnering with our customers, industry players and key stakeholders in mobilising finance and accelerating innovation to lead the transition to net-zero carbon emission,” he said.

Kontoor Brands Director Gihan Palihena said that the investment to people, developing talent and skills and understanding the value of data and speed are all key to being a leader in market.

Kevin Green from HSBC Bangladesh said the textile and garment sector is growing strongly in the post-pandemic era and the transition to a circular model.

“As more businesses plan to achieve net zero and their customers become increasingly pro-sustainability, the future of the industry is most likely to thrive,” he said.

Under business to business (B2B) solution of Serai, HSBC Bangladesh has made global trade easier for local apparel businesses since last quarter of 2020.