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The Building Youth Employability Through Skills (BYETS) project, in collaboration with The Daily Star, held its first roundtable discussion on October 24, 2024, focused on “Implementation of Global Reporting Initiatives (GRI) standards in RMG sector of Bangladesh”. This roundtable served as a platform for dialogue among key stakeholders—factories, policymakers, and Embassy representatives—to explore how GRI reporting can strengthen compliance, and accountability, and enhance the reputation of the RMG industry on a global scale. As sustainability becomes a core factor in maintaining competitive advantage, GRI reporting provides a structured approach to measure and report on critical aspects like energy efficiency, fair wages, and workplace safety. The roundtable aimed to equip the RMG sector with the knowledge and tools necessary to navigate these challenges, meet global demands, and ensure long-term sustainable growth.
The keynote paper of the roundtable was presented by Md. Monowar Hossain, Head of Sustainability, Team Group. Mr. Moyazzem Hossain, Research Director, CPD and Micheal Claud, Manager, GIZ were distinguished speakers at the event.
With the new regulatory changes that are currently operational or soon to be operational in the European Union market and many other major markets, there can be significant implications for our exports. Regulations like the Corporate Sustainability Due Diligence Directive (CSDDD), the Corporate Sustainability Reporting Directive (CSRD), and the Environmental Sustainability Reporting System (ESRS) will be compulsory for factories by 2026. Unless the Bangladeshi RMG industry takes active initiatives to get ready for these changes, the consequences will be dire. Capacity building and partner engagement will play a crucial role in developing an environment conducive to publicly disclosing the impacts of businesses on the economy, environment, and people, including their human rights.