The government will soon introduce an Industrial Water Use Policy to regulate groundwater consumption and a binding chemical regulation to curb the use of hazardous substances, Environment and Climate Change Adviser Syeda Rizwana Hasan announced today.
She made the remarks while speaking at a dialogue titled “Fostering Sustainable Investment”, organized by the American Chamber of Commerce in Bangladesh (AmCham) at the Sheraton Dhaka. The event brought together key stakeholders from government, business, and civil society to explore pathways for aligning investments with Bangladesh’s sustainability goals.
Adviser Rizwana Hasan highlighted several key government initiatives, including: An upcoming Industrial Water Use Policy to ensure responsible groundwater consumption by industries; A forthcoming binding chemical regulation to address harmful substances used in local manufacturing;
And a national target to source 30% of electricity from renewables by 2030, including transitioning government offices to green energy.
She stressed the urgent need to redesign investment strategies to reduce pressure on natural resources, especially as rising global demand for clothing threatens to strain Bangladesh’s environment further. She also noted that future tobacco regulations will be shaped in consultation with relevant stakeholders and businesses.
In his opening remarks, AmCham President Syed Ershad Ahmed said Bangladesh stands at a critical juncture, balancing its graduation from Least Developed Country (LDC) status with environmental responsibilities. “While private sector initiatives toward sustainability are commendable, persistent policy gaps and enforcement issues hinder meaningful progress,” he said.
Fehmi Muhsin Yüksel, CFO of Recover™, a global leader in recycled cotton, at the dialogue emphasised the need for circular models in the textile industry. He called for a stronger policy framework, reliable access to raw materials, and a national circularity strategy. Yüksel highlighted that Bangladesh hosts the world’s largest and most advanced cotton recycling facility, owned and operated by Recover™, positioning the country as a leader in textile sustainability.
Reza Mahmud, Country Manager of Philip Morris Bangladesh Ltd., discussed the role of harm-reduction alternatives, such as e-cigarettes and heated tobacco products. He urged a science-based regulatory approach—similar to the US, New Zealand, and Saudi Arabia—to support public health, increase tax revenue, reduce illicit trade, and prevent youth access.
Muhammad Imrul Kabir, Director of Corporate Affairs at Chevron Bangladesh, outlined the company’s 30-year contribution to the country’s energy security and community development.
Chevron currently supplies 60% of Bangladesh’s domestic gas and has invested $4.2 billion, including $634 million in local contracts. With 97% of its workforce being local, Chevron has supported over 120,000 people through programs focused on healthcare, MSME development, tree planting, disability support, and environmental protection—contributing to nine of the UN’s 17 Sustainable Development Goals (SDGs).
Economist and former AmCham President Forrest E. Cookson delivered a stark warning about the escalating impacts of climate change. He urged Bangladesh to begin relocating vulnerable populations northward and to build 15 new climate-resilient cities. He also called for large-scale investments in nuclear energy, electric transport, AI-driven infrastructure, and cooling technologies to prepare for intensifying heatwaves and rising sea levels.
The dialogue concluded with a call for more structured platforms where key public and private stakeholders can collaboratively address sustainability challenges and align policies. Participants engaged in active discussions, offering insights and suggestions for enhancing the country’s trade and investment climate amid a changing environment.
AmCham Vice President Eric M. Walker offered the vote of thanks, underscoring the importance of continued collaboration to build a sustainable and resilient Bangladesh.