HSBC Bangladesh, Apparel Impact Institute (Aii), the Embassy of Sweden in Bangladesh and the Delegation of the European Union to Bangladesh convened a high-level roundtable bringing together international and national stakeholders from the government, global apparel brands, manufacturers, financial institutions, development partners and industry associations to discuss how Bangladesh can accelerate access to reliable, competitive clean energy for its apparel industry.
The roundtable, titled “Advancing Decarbonization for Apparel in a Changing Energy Landscape”, focused on the growing urgency to accelerate Bangladesh’s clean energy transition as global apparel supply chains move towards decarbonization and markets, including the European Union, introduce increasingly ambitious sustainability and environmental requirements.
The event, brought together Michael Miller, Ambassador and Head of Delegation of the European Union to Bangladesh, AKM Sohel, additional secretary & UN wing chief, Economic Relations Division (ERD) Ministry of Finance, Olle Lundin, chargé d’affaires, Embassy of Sweden, Md Mahbub ur Rahman, CEO, HSBC Bangladesh; Md Sarwar Hossain, deputy governor, Bangladesh Bank, Vidya Khan, vice president, BGMEA; Kristina Elinder Liljas, Aii; Kim Hellström, H&M Group; and Olivia Windham Stewart, ATTI, among other industry stakeholders, including representatives from the wider Team Sweden network.
Discussions highlighted that expanding access to clean energy is not only an environmental imperative, but increasingly a commercial and competitiveness opportunity.
Greater availability of reliable and competitively priced renewable energy can help manufacturers reduce emissions and energy costs, respond to the expectations of international brands and markets, attract investment, and further strengthen Bangladesh’s position as one of the world’s leading apparel sourcing destinations.
The discussion was informed by keynote session combining international research, industry experience and Bangladesh-specific opportunities.
Kristina Elinder Liljas of Apparel Impact Institute presented findings from Aii’s research on the landscape and opportunities to finance the decarbonization of Bangladesh’s apparel manufacturing sector.
The research identifies Bangladesh as one of the countries with significant potential to reduce emissions across global apparel supply chains, while highlighting $6.6 billion of investment required for attaining 50% decarbonization for the sector by 2030.
Randolph Brazier, global head of Clean Power Systems, Global Sustainability, HSBC Holdings PLC, and Justin Wu, head of sustainability and climate change, Asia and Middle East at HSBC, also presented their views on clean energy potential for Bangladesh over Zoom.