Page 96 - ICE BUSINESS TIMES January 2020

Sustainability of Hazardous Substances Directive took
effect, HP complied immediately.
the way forward Similarly in Bangladesh, the
ready-made-garments industry is
beginning to adopt a proactive
approach. Clothing factories have begun
It was discovered in the 19th applying environmentally sustainable
century that accumulated carbon production practices, as a result of their
dioxide in the earth’s recent partnership with NGOs such as
atmosphere will increase the Bangladesh Partnership for Cleaner
temperature, causing a Textiles and Solidaridad. These
“greenhouse effect”. Today, partnerships have resulted in
nearly all scientists agree production methods that reduce both
that global warming must inputs and the quantity of waste
be reversed or terrible generated. For instance, traditional
natural disasters like dyeing processes use massive volumes
Hurricane Sandy in the of water and spawn high levels of
U.S. will hit more pollution. Newer dyeing methods
frequently and imprint the colour into fabrics directly
rising sea levels at the molecular level, reducing both
will change the pollution and the amount of water
world. consumed. Also, many companies are
implementing a closed-loop system,
where discarded clothing items are
recycled to create new fabrics. In this
way, companies in the garments
industry can completely eliminate
landfill waste.
The banking sector is also experiencing
green innovation. Bangladesh Bank has
made it compulsory for certain banks to
allocate a portion of their budget on
green banking. It is also encouraging
banks to provide online and mobile
banking services. Several banks have
begun to issue e-statements instead of
paper statements and using email
communication over face-to-face
meetings. Altogether, the banking sector
is minimizing wastage of resources.
But there are other industries that need
to adopt sustainable practices.
Bangladesh’s growing ICT sector is
resulting in large quantities of waste,
especially used batteries and discarded
cell phones. Much of this waste has the
Hence, companies around the Furthermore, a proactive approach potential to be recycled for industrial
world are trying to become “green” to sustainability gives companies usage, similar to the closed-loop system
and customers are demanding for a competitive edge, especially in of the garments industry. This is an
more sustainable business the technology hardware industry area that businesses can easily venture
practices. Unfortunately, there is a where most of the inputs are into and should do so for the benefit of
misconception that becoming non-renewable resources and both their business and society. Already
environment-friendly will add to production methods emit the garments industry has advanced
costs and fail to provide financial extensive greenhouse gases. In the into a leading position globally and is
benefits. In reality, research shows 1990s, Hewlett-Packard (HP) implementing sustainable practices to
that sustainability leads to discovered lead was toxic and ensure it flourishes in the long-term.
organizational and technological predicted that governments will Similarly, the ICT sector of Bangladesh
innovations which increase both eventually ban lead solders. It can rise to become an exemplar
revenue and net profit. This is experimented with other materials tech-hub in the world. The government
because companies create more and finally in 2006, it created must take steps to develop the
products at better quality with less solders that are an amalgam of necessary infrastructure and our
inputs, thus lowering their tin, silver and copper. Thus when entrepreneurs must capitalize on this
variable costs. the European Union’s Restriction burgeoning opportunity.

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