There has never been a more crucial time for Bangladesh to go green.
With the adverse effects of climate change already causing forced migration and food shortages, it is imperative that green practices are further incentivized.
The effects of this are twofold: Not only is it important to join the global fight against climate change, the ramifications of which are life-threatening, to say the last, it also makes sense for Bangladesh if it wishes to create space for continuous development.
Experts have repeatedly touted the importance of investment in green and eco-friendly technology, which has the potential to generate sustainable economic growth and employment.
At the moment, there are not enough regulations in place to control the excessive amounts of pollution produced by certain businesses and industries, creating a toxic culture whereby the environment is never prioritized.
By taxing the consumption of fossil fuels, and incentivizing green initiatives, which reward businesses for eco-friendly practices, essentially creating a level playing field, it encourages players in the private sector to put the health of the environment first.
The government has launched several laudable initiatives in this regard, such as the revolving fund which supports green projects through commercial banks and the $200 million set aside to make RMG and leather factories more eco-friendly.
But, in the long run, we must be working towards expanding this far beyond a few sectors and certain special industries.
For sustainable economic growth, there is nothing better than going green.