Bangladesh’s textile and apparel sector is embracing a path toward future-ready growth, grounded in transparency, with the official launch last week of the Improving Transparency for Sustainable Business (ITSB) initiative at the Renaissance Dhaka Gulshan Hotel. Led by the Global Reporting Initiative (GRI) in collaboration with strategic partners BGMEA and BKMEA, and supported by the Swedish Government (SIDA), the initiative positions transparency as a strategic imperative for global market access.
With Bangladesh approaching its LDC graduation in 2026 and facing rising expectations—including the EU Corporate Sustainability Due Diligence Directive (CSDDD) and Corporate Sustainability Reporting Directive (CSRD)—sector leaders emphasized that impact reporting is no longer optional. The ITSB initiative aims to build the “soft infrastructure” that complements Bangladesh’s world-class manufacturing capabilities, enabling factories to generate credible sustainability data sought by international buyers and investors. The initiative will also foster dialogue with regulators, policymakers, and industry bodies to support the strengthening of policies and the creation of incentives that advance sustainable practices across the sector.
Industry Leadership: Transparency as the Next Leap
Representing the sector’s leadership, Mr. Sheikh HM Mustafiz, Director, BGMEA, reinforced industry readiness:
“Bangladesh is the safest sourcing destination in the world. But being safe is no longer enough; we must be transparent. This initiative equips us to demonstrate our ethical and environmental performance with confidence.” BGMEA and BKMEA reaffirmed their commitment to guiding their member factories through the transition toward robust sustainability reporting.
Capacity-building Leadership: A Foundation for Post-LDC Competitiveness
Mr. Montasir Nahid, Director – SusNex Ltd, underscored the sector’s shifting priorities:
“For decades, Bangladesh has built world-class manufacturing infrastructure. Today, with the launch of ITSB, we begin building the soft infrastructure of transparency. Manufacturers can now use sustainability data as a strategic asset to win business.” As the Training and Outreach Partner, SusNex will drive capacity building across factories to align local practices with global disclosure requirements.
Global Leadership: GRI Standards for a Future-Ready Sector
Speaking on behalf of GRI, Dr. Aditi Haldar, Director South Asia, emphasized the strategic value of the GRI Standards:
“As the world’s most widely adopted sustainability reporting standards, the GRI Standards serve not only as a disclosure system but as a management tool. They enable organizations to identify, assess, and act on their most significant impacts—strengthening decision-making and long-term value creation.” Building on this foundation, Ms. Gelkha Buitrago, Director Sector Standards, highlighted GRI’s robust multistakeholder standards-development approach and explained how GRI is driving coherence across the global reporting landscape—ensuring alignment with TNFD, IFRS Sustainability Standards, the European ESRS, India’s BRSR, SBTi, CDP, and more. Mr. Rahul Singh, Senior Manager South Asia, underscored that the ITSB initiative is built on a strong multi-stakeholder approach—engaging businesses, policymakers, regulators, industry associations, and investors—to strengthen sustainability and transparency across the textile and apparel sector, empowering it to remain resilient, profitable, and globally competitive. Mr. Peter Dawkins, Senior Manager Standards, provided an exclusive preview of the forthcoming GRI Textile and Apparel Sector Standard, outlining the sector-specific material topics and disclosures that will guide the next generation of transparency for the global textile and apparel industry.
Strategic Roundtable: The Ecosystem Unites The event concluded with a high-level roundtable titled “Empowering Future-Ready Growth”, bringing together key stakeholders from across the textile and apparel ecosystem. Mr. Kazy Mohammad Iqbal Hossain (Lindex AB) highlighted that global buyers are increasingly consolidating their supply chains and prioritizing suppliers who can provide reliable, data-driven insights on environmental and social performance, reinforcing the importance of transparency as a competitive advantage. Mr. Md. Tawhidul Islam (Swisscontact – PROGRESS) suggested strengthening the base of sustainability experts in the country to support long-term industry capacity, enabling factories and stakeholders to effectively operationalize sustainability practices across the sector. Mr. Mohammad Monower Hossain (TEAM Group) emphasized that implementing structured impact reporting is enhancing operational efficiency, fostering team alignment, and embedding sustainability into daily factory operations. Mr. Molla Karimul Islam Tuhin (City Bank PLC) noted that verified sustainability disclosures are becoming a key enabler for accessing green and responsible finance, helping manufacturers demonstrate credibility and strengthen investor confidence.
Looking Forward
The launch of the ITSB Initiative marks the beginning of a collaborative journey with Bangladesh’s textile and apparel sector, harnessing transparency as a strategic advantage. The initiative is designed to highlight Bangladesh’s best practices to global stakeholders while enabling local manufacturers to strengthen alignment with global standards. Guided by the combined leadership of GRI, BGMEA, BKMEA, and SusNex, Bangladesh is charting a path toward a more resilient and future-ready RMG sector—one where transparency drives innovation, builds trust, and reinforces long-term competitiveness on the global stage.
