Green Entrepreneurship
Tasnimul Islam
| Published: March 30, 2024 21:51:56
Green entrepreneurship, which focuses on sustainable and environment- friendly business practices, has the potential to create numerous job opportunities in Bangladesh. This is particularly relevant for the youth who are the future of the nation. This article will focus a few sectors of our economy where our youths can find employment opportunities for building sustainable Bangladesh by keeping green entrepreneurship in their mind.
Sustainable agriculture: Agriculture in Bangladesh confronts pressing challenges, including land and water degradation and the use of harmful agro-chemicals. The Bangladesh government is actively pursuing sustainable agricultural methods to address these issues. Recent data indicates that mechanisation and specialised chemicals have led to increased production but also contributed to soil depletion, water contamination, and poor labour conditions. Climate change further compounds these challenges, with flooding, natural disasters, and saltwater intrusion resulting in the loss of approximately 1.75 per cent of arable land. To combat these threats, initiatives such as the International Finance Corporation’s collaboration with private seed companies have been implemented. Additionally, innovative approaches like floating gardens, designated as a ‘Globally Important Agricultural Heritage Site’ by the Food and Agriculture Organization, showcase the potential for sustainable farming in Bangladesh.
On the other hand, data also reveals that resource-poor farmers often lack access to sustainable farming practices. Organisations like the Syngenta Foundation for Sustainable Agriculture have been instrumental in addressing this gap. Since 2011, their initiatives, including Farmer’s Hubs, have engaged 15,000 small farmers, leading to an average income increase of 34 per cent. For entrepreneurs in Bangladesh’s agriculture sector, opportunities lie in developing innovative solutions to promote sustainable practices while addressing pressing challenges. Agri-tech solutions can be developed to provide affordable agri-tech tools and solutions tailored to smallholder farmers, such as mobile applications for crop management, soil health monitoring sensors, or precision agriculture technologies to optimise resource use and minimise environmental impact. Entrepreneurs can also work on making organic fertiliser, biopesticides etc. There can be research and development on climate-resilient crop varieties. Startups can also try to build platforms and networks that connect sustainable farmers to consumers in a farm-to-market model facilitating transparent and traceable supply chains and promoting fair trade practices.
Eco-tourism: Eco-tourism in Bangladesh has witnessed substantial growth, evident from numeric data indicating a 20 per cent annual increase in tourist arrivals to eco-friendly destinations over the past decade. Specifically, the Sundarbans, recognised as a prime eco-tourism destination, has seen a remarkable surge in visitor numbers, with an average of 500,000 tourists annually, contributing approximately US$ 50 million to the local economy each year. A comprehensive study conducted by the Bangladesh Tourism Board revealed that ecotourism activities have led to a significant reduction in environmental degradation, with a 35 per cent decline in deforestation rates and a 25 per cent decrease in wildlife poaching incidents in protected areas. This conservation success is further supported by data showcasing a 40 per cent increase in the population of endangered species such as Bengal tigers and Irrawaddy dolphins within eco-tourism zones.
Economic indicators also highlight the positive impact of ecotourism on local communities, with a reported 50 per cent rise in household incomes among those engaged in eco-tourism-related businesses. Additionally, investment in eco-tourism infrastructure has led to a 30 per cent increase in employment opportunities, benefiting over 100,000 individuals across various sectors such as hospitality, transportation, and handicraft production.
In response to the Covid-19 pandemic, domestic eco-tourism has emerged as a resilient sector, with data showing a 15 per cent surge in local tourist visits to eco-friendly sites compared to pre-pandemic levels. In Bangladesh, encouraging entrepreneurial ventures focused on eco-tourism can be facilitated by offering targeted financial incentives and support for sustainable infrastructure development, thereby capitalising on the sector’s growth momentum and reinforcing its dual impact on conservation and local economies.
Green transportation: Bangladesh faces significant climate change risks, particularly in its coastal regions where 28 per cent of the population resides. The country’s reliance on inland waterways for commercial traffic is substantial, with the Dhaka-Chittagong corridor alone handling 60 per cent of this traffic. Currently, less than 5.0 per cent of containerised cargo uses eco-friendly inland waterways, highlighting a vast potential for emission reduction. Through the NDC Partnership, Bangladesh is developing strategies to align its transport sector with sustainability goals. Collaborative efforts involve a wide array of stakeholders, including government ministries, shipping authorities, and multinational corporations. These initiatives are crucial as Bangladesh seeks to reduce emissions by 4.0 per cent to 10 per cent annually by 2030 through the adoption of more efficient vessels and alternative fuels. With the establishment of GHG inventories, policymakers can make informed decisions to meet national emission reduction targets. To empower entrepreneurs in Bangladesh’s transport sector, targeted initiatives such as subsidies or tax incentives can incentivise the adoption of eco-friendly inland waterway transportation methods, fostering innovation and investment in sustainable solutions while aligning with the country’s climate resilience goals.
Sustainable fashion: The European regulator is pushing for the elimination of fast fashion by 2030, with comprehensive eco-design rules for textile products. They advocate transparency from large companies regarding disposal of unsold stock in landfills. Each clothing item will have a digital product passport for recyclability assessment, with measures against greenwashing. Bangladesh is addressing sustainability through different measures taken by BGMEA and implemented by players in the industry. Bangladesh is tackling water usage and wastewater pollution with water-saving technologies and natural dyes. Energy efficiency is prioritised, with firms transitioning to renewable energy and adopting solar power. Waste management challenges are being addressed through recycling and upcycling initiatives. Bangladesh aims to lead in sustainable fashion, offering opportunities for green entrepreneurs in eco-friendly garment production.
The government needs to build an enabling environment through supportive policies and regulations. Educational institutions must equip the youth with the necessary skills and knowledge. The private sector should provide funding and mentorship for green start-ups. Global entrepreneurs are embracing sustainable practices in the fashion industry by adopting eco-design rules, promoting transparency in supply chains, and implementing renewable energy solutions. Bangladeshi entrepreneurs can similarly focus on eco-friendly garment production, invest in water-saving technologies, adopt renewable energy sources like solar power, and initiate recycling and upcycling initiatives to address waste management challenges.
Green energy sector: Bangladesh has made significant strides in renewable energy, aiming to diversify its energy sources away from fossil fuels. Despite predominantly relying on natural gas and fossil fuels, the country has seen remarkable growth in its electrification rate, reaching 92 per cent in 2022. The renewable energy policy journey began in 2008, leading to steady progress in integrating sources like solar, small-scale hydropower, and biomass-biogas. Government initiatives include installing rooftop solar systems, promoting electric vehicles, and constructing solar charging stations. These efforts have positioned Bangladesh as a leader in renewable energy in Asia, with programmes like the Solar Home System Programme serving 11 per cent of the population. Renewable energy transition is expected to accelerate economic development, ensure energy access, and improve quality of life. Global organisations like the World Bank have provided financial support, with partnerships further facilitating renewable energy projects. Job opportunities will arise in the installation, maintenance, and manufacturing sectors, contributing to employment generation and sustainable development in the green energy sector of Bangladesh. Specially if entrepreneurs are taking their passion to work in the green energy sector with ideas ranging from smart grid technology development to solar panel manufacturing and what not.
Waste management: Waste management in Bangladesh faces many challenges due to its large, rapidly growing population in a densely populated country. The total waste collection rate in major cities of Bangladesh such as Dhaka is only 37 per cent. When waste is not properly collected, it will be illegally disposed of and this will pose serious environmental and health hazards to the Bangladeshis. The government of Bangladesh has launched the National 3R that means Reduce, Reuse and Recycle Strategy for solid waste management. The city corporations and municipalities already incorporate the concepts and guidance of this strategy for improving their solid waste management activities. The government has formulated Solid Waste Management Rules 2021. Specific sub clauses have been added to the Solid Waste Management Rules 2021 for the proper management of solid waste. Moreover, many local startups are working to digitise and organise solid waste recycling. However, there are still many challenges and opportunities. For example, biomedical wastes pose a great danger in Bangladesh too as a report estimated that 20 per cent of the biomedical waste is ‘highly infectious’ and is a hazard since it is often disposed of into the sewage system or drains. Such poor sanitation has serious consequences for the health of the residents. Entrepreneurs can introduce innovative waste management solutions, such as waste-to-energy technologies or recycling programs. These initiatives not only solve environmental issues but also create jobs in collection, transportation, processing, and recycling.
With the right support and resources, youths of Bangladesh can drive the green revolution in the country, creating jobs, promoting sustainability, and contributing to a greener and more prosperous future. The youth unemployment rate in Bangladesh declined to 12.93 percent in 2022, indicating a positive trend towards better employment opportunities for the youth. With the continued focus on green entrepreneurship, this trend can be expected to continue, providing a bright future for the youth of Bangladesh.
Dr Tasnimul Islam is assistant dean, School of Business,
Primeasia University
[email protected]
