4 responses to “Good Business: Viyellatex”

  1. Sadiq

    Here is an interesting article in Bangladesh’s Financial Express newspaper.

    Especially this section:

    Impediments towards green economy

    Bangladesh needs huge financial support with no conditionality or rational conditionality to follow the green path. It also requires technological support. In this connection, the responsible group of countries should come up with their respective due shares, said Shah Md Ahsan Habib, a Professor and Director [Training] of Bangladesh Institute of Bank Management (BIBM).

    “To move towards a green economy, government should take necessary steps to enforce existing environmental regulations and formulate appropriate rules to ensure ‘Polluter Pays Principle’ in the country”, Mr Habib, a green economy expert said.

    Regulations should be formulated and enforced in such a manner so that polluters can be penalised. It can be seen that common people or third party that are not engaged in the process of production or consumption of a particular product are getting affected and paying the price.

    “The Central Bank of Bangladesh can play a pro-active role in formulating a national level ‘Green Credit Policy’ and creating a sound incentive structure for performing ER (Environmentally Responsible) practices by banks. Much more is expected from NGOs and civil society organizations in the form of awareness development, research activities and business monitoring”, Mr Habib suggested.

    Bangladesh’s progress in the areas of green economy

    Bangladesh has formulated a good number of relevant regulations, however enforcement of all these have been very weak. As a whole the responses of the stakeholders in the country remained inadequate.

    According to the recently disclosed Environmental Performance Index 2012, Bangladesh ranked 115th out of 132 countries which indicates relatively less effort and initiatives (weaker performer) by the country in regard to environment related performance as compared to other global economies, however, the index reveals improvement in the country’s environmental performances. Bangladesh has been placed among the ‘Weaker Performers’ alongside China and Pakistan; India is among the ‘Weakest Performers’; and Nepal is among the ‘Stronger Performer’ economies. It is nice to observe that Bangladesh has been categorized among the ‘Modest Improver’ countries alongside Sri Lanka.

    Bangladesh government has already outlined its approach in the Bangladesh Climate Change Strategy and Action Plan (BCCSAP), which has been acclaimed around the world. Within this framework, a Bangladesh Climate Change Trust Fund (BCCTF) has been created with budgetary allocations, which has received Tk 210 billion over the last three years. Another Tk 40 billion has been allocated in the current (2012-13) budget. Already some 83 projects are being implemented, mostly for adaptation but some also for mitigation, by various ministries and agencies of the government, with support from this Fund.

    Another Fund, Bangladesh Climate Change Resilience Fund (BCCRF), has also been established with contributions from development partners.

    The BCCRF has so far received US$170 million and more is expected in the course of time. A few projects have already been initiated with support from this Fund.

    Bangladesh should take effort to solicit money from a US$ 513 billion fund pledged at the Rio+20 Conference on Sustainable Development held in June, a senior government official said.

    “As governments, private sector, civil society and other groups expressed their commitments at the summit, now our goal is to secure climate funds for the country,” said SM Ahsanul Aziz, deputy director (climate change), Department of Environment (DoE).

  2. Jonas Cebo

    Amazing to read about a company actually putting green industry technology into action. Can’t understand why more companies aren’t doing the same. As Hasanat says, it saves money and it makes money…

  3. ollie barton

    I like the candid answers that the Viyellatex CEO provided. He says other companies would implement the same green practices if only they knew how money it would save them. And he says the other main reason that he tries to make his company sustainable is the competitive advantage that it gives him when negotiating prices with the Western companies that he supplies – they want a green supplier because it impresses their shareholders and customers. Thing is though, why don’t all the other garment assembly companies in countries, like Bangladesh, see what Viyellatex can see?

  4. Abu Bakar Siddique

    Very good news for us and Bangladesh. I think “Echotex Ltd”, chandra polli Biddut, Gazipur” is the another example of such factory and this factory is trying to be fully eco-based and eco-friendly factory, and trying to maintain government and environmental all rules and regulations. This factory also has green practice. Already this factory gets some national awards about environmental issue within three years of dye house starting. This factory is trying to disperse zero discharge waster form ETP with biological treatment and re-using huge water and heat to save energy and environment. This factory is working to save the planet.