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‘CSR to fully protect future profitability of companies’

  • Staff Correspondent
  • 8 September, 2022 12:00 AM
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‘CSR to fully protect future profitability of companies’

Although  CSR is 2.5 percent of companies’ profit now, it can ensure sustainability of 100 percent of their future revenue, leaders of Bangladesh German Chamber of Commerce and Industry (BGCCI) have said.

“What is more important than pledging to do something by 2030, 2040 or 2050 is what you are planning to do tomorrow. Sustainability is core to the future ofBangladesh,” BGCCI vice-president and managing director of climate tech company SOLshare said.

BGCCI on Monday organised for the first time a seminar on Bangladesh’s pathway to net zero and the role of industry and commerce at a city hotel with Mayosr Atiqul Islam as its Chief Guest, says a release.

Dr Groh said while acritical mass of the world's largest companies and countries have already made netzero pledges, it is not always clear what that exactly entails.

The event attracted close to 100 people representing more than a dozen different countries, from the business community, government, development sector, academia, startups in the energy space and several representative from chambers and associations.

The Mayor of Dhaka North,Atiqul Islam, said: “Now that the risks and dangers of climate change are clear, we need to jointly find immediate solutions.”

 He particularly mentioned the need for introducing safe and efficient school bus services, powered through apps similar to those used by ride-sharing companies, and ideally electric.

He stressed that the challenge for a larger uptake are often not the schools or students but the guardians. He welcomed BGCCI to take the initiative and work with DNCC regarding the move to safe school busses for all students in the North City Corporation area and set an example leveraging its 300 strong membership base with a direct contribution to net zero.

He also underlined that he is fighting for cleaning up the city’s canals and looking for solutions that can cover canals with solar PV panels that reduce evaporation and allow more water flow and also make littering harder including more effective waste management processes.

Prof. Dr. Saleemul Huq delivered his keynote marking out that climate change is very real and here right now, citing the recent floodings in Pakistan as an example.

He clarified that this disaster is not caused by climate change but significantly intensified and occurring more often due to the effects of climate change.

He went on to moderate a panel featuring Alamgir Morshed, CEO, IDCOL, Md. Fazlul Hoque, MD, Plummy Fashions, Daniel Ciganovic, CFO, SOLshare, and Dr. Michael Klode, project manager of GIZ Bangladesh.

The panel discussed among several issues the need for buyers to financially renumerate efforts made by the supplier for greener production in the RMG sector.

The fact that a piece of clothing was made in a sustainable factory should trigger a label the same way as a pair of jeans made of organic cotton does leading to a higher price.

This premium should be shared. The panel also stressed the fact that rooftop solar by now is a low-hanging fruit as it is economically viable since the cost of solar energy is now lower than the commercial grid tariff.

Muin Uddin Mazumder, senior vice-president of the BGCCI gave the vote of thanks at the event.