10 Bangladeshi firms join prestigious Bloomberg sustainability rankings

Business Report :

The recently revealed updated Bloomberg data shows an evident sign of development in terms of embracing sustainability in the country’s corporate world as three more Bangladeshi listed firms have made it to the Bloomberg Environmental, Social, and Governance (ESG) club, taking the total number of firms (from Bangladesh) in the list to 10 (ten), commendable progress from the last year where seven Bangladeshi firms were on this list.
Ten local companies, including six homegrown firms, were featured on this prestigious list, with three new entries, namely, BSRM Limited, Lafarge Holcim Bangladesh, and MJL Bangladesh. This achievement highlights the country’s growing commitment to sustainability and adopting ESG compliance. Based on 2023 sustainability disclosures, seven other firms that have been nominated for this list are BAT Bangladesh (BATB), Grameenphone, Marico Bangladesh, BRAC Bank, IDLC Finance, Square Pharmaceuticals, and Walton Hi-Tech Industries.
These accomplishments also highlight technological innovations by companies like BSRM, which adopted innovative practices to recycle water and reduce air pollution, while LafargeHolcim Bangladesh targets net-zero emissions through its four sustainability pillars – climate, circularity, nature, and people. BAT Bangladesh is the only company in the country that has achieved core certification by the Alliance for Water Stewardship for good water governance across all its manufacturing sites.
M Jamal Uddin, CEO of IDLC Finance, stated, “Our ESG score jumped because we chose to lead with purpose. By transparently disclosing our carbon emissions, committing to ambitious net-zero targets, and investing in green and sustainable financing, we turned intent into impact.”
For the list, Bloomberg voluntarily collects data from public disclosures of sustainability efforts, with quantitative disclosures carrying more weight in scores than qualitative ones.