As one of the world’s largest textile exporters, Bangladesh holds immense potential to embrace a circular economy—a transformative approach that turns waste into wealth, fostering economic growth while safeguarding the environment.
In the October–December edition of its News Bulletin, published on Wednesday, the International Chamber of Commerce-Bangladesh (ICCB) emphasized that Bangladesh can unlock this potential by recycling fabric waste and promoting second-hand clothing markets.
These practices, the ICCB noted, can help the local apparel industry reduce its environmental footprint while boosting profitability.
Similarly, agricultural waste, such as rice husks and jute byproducts, can be transformed into bioenergy and organic fertilizers, supporting sustainable farming practices. Circular models also align with renewable energy goals by incorporating waste-to-energy solutions, reducing reliance on fossil fuels.
Despite generating approximately 3,000 tonnes of plastic waste daily, only 30% is recycled. Furthermore, the improper disposal of electronic waste and agricultural byproducts exacerbates environmental degradation.
The ICCB highlighted that investments in recycling infrastructure and waste-to-energy projects could address these challenges while creating economic opportunities.
“In an era where environmental degradation and resource scarcity dominate global conversations, the circular economy emerges as a beacon of hope,” the ICCB stated in its editorial.
Unlike the traditional “take-make-dispose” economy, the circular economy prioritizes sustainability, efficiency, and resourcefulness by redefining how goods are produced, consumed, and disposed of.
It is built on three key principles: designing out waste and pollution, keeping products and materials in use, and regenerating natural systems.
This approach extends product lifecycles, promotes material reuse and recycling, and minimizes waste. The circular economy not only conserves resources but also reduces greenhouse gas emissions, tackles pollution, and unlocks new economic opportunities.
Some developed nations are already showcasing the circular economy’s potential. The Netherlands, for example, aims to halve raw material use by 2030 through recycling and repairable goods. Sweden converts 99% of household waste into energy, while Patagonia, an outdoor clothing brand, exemplifies circular practices by encouraging clothing repair and recycling.
Asia’s Rising Climate Challenges
Asia remained the world’s most disaster-affected region in 2023, with floods and storms being the primary causes of casualties and economic losses. According to the latest report from the World Meteorological Organization, heatwaves in Asia are becoming increasingly severe, with melting glaciers posing significant threats to the region’s future water security.
To combat climate hazards, COP29, recently concluded in Baku, has set a target of mobilising at least $300 billion annually by 2035. Developed countries are expected to take the lead within a broader framework of $1.3 trillion per year from all actors to support climate action in developing nations.
