Green Industrialization as a Solution to the Energy Crisis in Bangladesh: A Study about Green RMG Factories in Bangladesh

Md. Ahsan Habib, Mahfuja Akter, Rejoana Islam and Kazi Md. Yusuf
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Md. Ahsan Habib: Department of Economics, Hajee Mohammad Danesh Science and Technology University, Dinajpur, Bangladesh.
Mahfuja Akter: Department of Economics, Bangabandhu Sheikh Mujibur Rahman Science and Technology University (BSMRSTU), Gopalganj-8100, Bangladesh.
Rejoana Islam: Department of Economics, University of Barishal, Bangladesh.
Kazi Md. Yusuf: Department of Marketing, Hajee Mohammad Danesh Science and Technology University, Dinajpur, Bangladesh.

International Journal of Science and Business, 2024, vol. 31, issue 1, 76-88

Abstract: This research paper aims to investigate the potential of green industrialization as a solution to the energy crisis in Bangladesh, with a specific focus on the ready-made garment (RMG) sector. The purpose is to assess the economic viability of implementing green practices in RMG factories and their impact on energy consumption, environmental sustainability, and overall economic development.The study employs a comprehensive approach, utilizing a mix of qualitative and quantitative methods. It includes an analysis of green manufacturing processes, energy-saving measures, and the use of renewable energy sources in 30 RMG enterprises. The research also explores challenges faced by the industry in adopting green practices, such as higher initial costs, reliance on foreign consulting firms, and customer behavior.Green manufacturing processes in RMG companies result in decreased energy use, increased use of renewable energy, reduced water consumption, and decreased noise pollution. About 63% of businesses employ some form of renewable energy, with popular measures including the use of solar panels, turbo ventilation, and daylighting systems. However, the study also identifies challenges such as higher installation costs, reliance on foreign expertise, and customer reluctance to pay more for green products.The findings may not fully represent the entire industry, and variations in practices across different regions and sizes of enterprises may exist.The need for government subsidies, awareness campaigns to promote green practices among factory owners, and incentives for importing eco-friendly machinery. The study focuses on a sector critical to Bangladesh's economy and its potential to contribute to sustainable development goals and address the energy crisis.

Keywords: Green Industrialization; Green Finance; RMG; Energy usage; Energy consumption (search for similar items in EconPapers)
Date: 2024
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