Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Global Reporting Initiative (GRI) have signed a Strategic Partnership Agreement to strengthen sustainability transparency and impact-based reporting in Bangladesh’s textile and apparel sector.
The agreement was signed under the Improving Transparency for Sustainable Business (ITSB) Initiative, aiming to enhance sector-wide capacity building, stakeholder engagement and the adoption of GRI Standards for sustainability reporting.
Under the initiative, businesses and stakeholders will receive support to identify, manage and disclose their most significant environmental, social and economic impacts using the internationally recognised GRI Standards, complementing evolving investor-focused sustainability disclosure requirements, said a BGMEA press release.
As a Strategic Partner, BGMEA will provide sector leadership to advance a shared vision for transparent, responsible, and sustainable business practices in Bangladesh’s Textile and Apparel sector.
The collaboration will strengthen the capacity of businesses and wider stakeholders to identify, manage, and report their most significant sustainability impacts using the GRI Standards, complementing evolving investor-focused sustainability disclosure requirements with information on organizations’ impacts on the economy, environment, and people.
The ITSB Initiative is designed as a multi-stakeholder capacity-building platform for businesses — including small, medium, and large enterprises — as well as regulators, industry associations, investors, and other national stakeholders, it said.
The collaboration will include online and in-person dialogues, trainings, webinars, workshops, consultations, surveys, and other engagement activities during the initiative. The initiative will go beyond a single thematic focus and progressively address sector-relevant environmental, social, and economic impacts aligned with the GRI Standards.
Speaking on the partnership, Bastian Buck, Chief of Standards, GRI said “This ITSB Strategic Partnership Agreement with BGMEA marks an important step in strengthening sustainability transparency and impact-based reporting in Bangladesh’s Textile and Apparel sector. Through ITSB, we look forward to working collaboratively with BGMEA, businesses, regulators, investors, and other stakeholders to strengthen the practical application of the GRI Standards—supporting organizations to identify, manage, and transparently report their most significant impacts.”
“The partnership also creates an important channel for the sector’s experience, priorities, and practical realities to inform wider sustainability reporting discussions, including GRI’s ongoing work on the Textile and Apparel Sector StandardBy connecting global reporting standards with nationally relevant capacity building and stakeholder dialogue, we aim to support more credible, decision-useful disclosures and contribute to a more transparent, responsible, and competitive sector in Bangladesh,” he said.
Wasim Zakariah, Chairman, Standing Committee on Responsible Business Hub (RBH) and Sustainability Reporting, BGMEA, said, “Bangladesh’s garment industry is making significant progress in environmental sustainability, workplace safety, and responsible business practices.
The next step is to strengthen how companies measure, manage, and communicate their sustainability performance.”
“Through this partnership with GRI under the ITSB Initiative, we hope to support businesses in building practical knowledge on sustainability reporting and impact disclosure. Greater transparency will not only help companies respond to evolving expectations from international buyers, investors, and regulators, but also enable them to better understand their own risks, opportunities, and areas for improvement,” he said.