As the President of one of the oldest and most prestigious chambers of the country, indeed, this is my honour and immense pleasure to welcome everyone to the FICCI Quarterly Newsletter, October 2022. The prime objective of this issue of the Newsletter is to promote the FICCI member companies by demonstrating the initiatives and activities they are currently practicing toward attaining their targets of Sustainable Development Goals (SDGs),
which are aligned with the Global and National targets for achieving SDGs. In this current globalized world, Environmental sustainability and conducting businesses are internally correlated. Business sustainability refers to conducting business in a responsible way that would not have any adverse effect on the environment, community, or society as a whole. Business Sustainability mainly addresses two broad categories, such as the effect business has on i) Environment, and ii) society. The goal of a sustainable business strategy is to make a positive impact on at least one of those areas.
The international and national commitment to Sustainable Development Goals (SDGs) is the guidelines and way forward for the business communities to set up and attain their commitment to doing business in a sustainable manner. The Foreign Investors’ Chamber of Commerce and Industry (FICCI) is representing around 90% of the foreign investors in Bangladesh, including the leading multinational companies across the globe. Most of the FICCI member companies are also global leaders in conducting businesses in a sustainable manner and also have their separate commitments to ensure and attain national and international SDG goals. Besides, the FICCI member companies are conducting their businesses in Bangladesh with their knowledge, and expertise, and bringing international best practices in wider aspects of environmental, economic, and social factors. These companies always considered ensuring sustainable business practices while making business decisions and also have the motto of safeguarding their investment and long-run return rather than making short-term profits.
Currently, the FICCI is representing investors from Thirty-five (35) countries across the globe in more than Twenty-one (21) sectors in Bangladesh. Due to the diverse nature of sectors the FICCI member companies are representing, their commitments and strategy toward attaining Sustainable Development Goals are different. However, the FICCI member companies are practicing the Sustainable business model by contributing to the Environment, Community, and Society. For instance, Manufacturing companies are
practicing and ensuring sustainability through sourcing and using green raw materials, recycling and reducing both liquid and solid waste, etc. The Power sector companies are using the latest environment-friendly modern technologies for the generation of power, e.g. Gas and Electricity. FICCI member companies are also using renewable energy and contributing to lowering the emission of Greenhouse Gas. Many of the FICCI member companies are working on community development by contributing to the Education sector, supplying drinking water and sanitation facilities, and Healthcare facilities in rural areas, where the marginal people are not getting their basic needs and lagging behind. Besides, they are also contributing to Tree Plantation and forestation to reduce Environmental degradation. Some of the companies are also working to raise awareness of the people in different social problems, violence against women, and also empowering women. During the Covid-19 pandemic, the FICCI, with support from the member companies provided healthcare and Personal Protective Equipment (PPE) to different hospitals in Bangladesh. FICCI member companies also separately provided healthcare, food, medicine, soap, and handwash materials to the communities as part of their commitment to the community.
Moreover, most of the FICCI member companies are the leading multi-national companies, that have their separate global commitments to protecting the environment and ensuring sustainability, and meeting the goals of Sustainable Development. Their commitments are ranging from Carbon Neutrality, Zero Carbon Emission, Reducing and management of waste, transferring from Fuel-based energy sourcing to renewable energy, etc. Their initiatives and implemented activities are complementing the national and international goals of ensuring Sustainable Development Goals.
The Foreign Investors’ Chamber of Commerce and Industry (FICCI) has taken several initiatives to ensure sustainability in the business processes and also encourage its member companies to contribute more to the Environment, Community, and Society. In this process, the FICCI has formed a Committee for Environment, Sustainability, and Governance (ESG) consisting of members from different companies. The prime objective of this Committee is to organize and collect information on the current practices of different FICCI member companies are conducting as their commitments to ensure Sustainability and showcasing and disseminating this information in different public and private forums and media so that more businesses feel interested to contribute for the Environment and Sustainability. Besides, another prime objective of the Committee is to coordinate with the relevant policymakers and regulators to identify the possible areas of collaboration with the government which will be instrumental in ensuring Sustainability and also complement the Government’s initiative to achieve the national goals of sustainable development. In addition, the FICCI will organize a series of seminars on Sustainability, engaging the relevant key stakeholders, policymakers, leading researchers, and academia to raise awareness of ensuring sustainability and protecting the environment.
As one of the leading Chambers of the country, who solely represent the foreign investors in the country, we always prioritize and believe in the thought-leadership process and also work with the Government of Bangladesh as a partner for the growth and development of Bangladesh. In this process, we would like to work with the government of Bangladesh more closely to protect the environment and practice business sustainability and ensure Sustainability as a whole to complement the government’s initiative to attain the national and international goals of Sustainable Development. With this aim in mind, this issue of the FICCI Newsletter, October 2022, covers the theme of Environment and Sustainability.
I would like to thank all the industry leaders and experts for their excellent contributions that greatly enriched the Newsletter. I also want to thank the patrons and sponsors of this FICCI Quarterly for their assistance and support. Finally, I would like to thank the FICCI Secretariate for their effortless support and work in bringing the Newsletter on time. I am looking forward to the support, comments and invaluable inputs from our esteemed member companies to enrich the upcoming FICCI Newsletter.
I wholeheartedly believe that the articles of this Newsletter would encourage the FICCI member companies and other businesses in Bangladesh to rethink their strategy and commitment toward ensuring the environment and attaining Sustainable Development Goals as individual companies and the country as a whole. On behalf of the foreign investors in Bangladesh, we can assure you that we are committed to contributing more to the environment, community, and society and our commitment and initiative will help the Government of Bangladesh to meet the Sustainable Development Goals by 2030.
With Thanks and Regards,
Naser Ezaz Bijoy
President, FICCI
