• Saturday, Jan 25, 2020
  • Last Update : 01:34 am

The case for greener investment

  • Published at 12:01 am November 24th, 2019
Solar panel sun
Photo: BIGSTOCK

We must, over time, move towards more sustainable ways

Over the past few years, Bangladesh has, without doubt, seen unprecedented growth and development.

Although we as a nation have some ways to go before we truly realize our economic potential, few can question the progress we are making and for that, the government must be applauded.

However, what is also undeniable is the fact that Bangladesh remains among the most vulnerable countries to the detrimental effects of climate change.

While Bangladesh has never been a serious offender when it comes to greenhouse gas emissions, our investment and development choices in the future will play a major role in shaping how we deal with the inevitable consequences of climate change.

To that end, it would be the right move to redirect investment by environment-based organizations -- particularly foreign investment -- into more environmentally-friendly projects, such as renewable sources of energy.

Additionally, before giving the go-ahead to any large-scale projects, it is imperative to conduct scientific assessments to understand whether the long-term effects of such projects would prove to be catastrophic to the local environment.

While the authorities concerned are undoubtedly walking a fine line between developing the country while facing potentially hazardous consequences that could befall our environment as a result, it must be said that development that is not environmentally sustainable is not the sort of development Bangladesh should aspire to.

Indeed, while fossil-fuel dependent industrialization continues to play a major role in our nation’s progress, we must, over time, shed our dependency on such environmentally damaging technology and move towards more sustainable ways.

As such, foreign investment could play a vital role in this endeavour, and therefore, the government should consider directing foreign investment to green energy and other renewable projects and initiatives.