Ambassador and Head of Delegation of the European Union (EU) to Bangladesh Michael Miller on Wednesday said access to clean energy will become increasingly important for the competitiveness of Bangladesh’s garment industry as European markets and global value chains transition towards a low-carbon future.

“There is an opportunity to combine manufacturing strength with cleaner production that we encourage you to grasp with both hands, to place this country at the forefront of sustainable sourcing,” he said while speaking at a roundtable in Dhaka.

HSBC Bangladesh, the Apparel Impact Institute (Aii), the Embassy of Sweden in Bangladesh and the Delegation of the European Union to Bangladesh convened a high-level roundtable bringing together international and national stakeholders from the government, global apparel brands, manufacturers, financial institutions, development partners and industry associations to discuss how Bangladesh can accelerate access to reliable, competitive and clean energy for its apparel industry.

The roundtable, titled “Advancing Decarbonisation for Apparel in a Changing Energy Landscape”, focused on the growing urgency to accelerate Bangladesh’s clean energy transition as global apparel supply chains move towards decarbonisation and markets, including the European Union, introduce increasingly ambitious sustainability and environmental requirements.

Additional Secretary and UN Wing Chief at the Economic Relations Division (ERD) A K M Sohel, Chargé d’Affaires of the Embassy of Sweden Olle Lundin, CEO of HSBC Bangladesh Md Mahbub ur Rahman, Deputy Governor of Bangladesh Bank Md Sarwar Hossain, Vice President of BGMEA Vidya Khan, Kristina Elinder Liljas of Aii, Kim Hellström of H&M Group and Olivia Windham Stewart of ATTI, among other industry stakeholders, including representatives from the wider Team Sweden network, attended the roundtable.

The roundtable highlighted a shared recognition that Bangladesh has an important window of opportunity.

By accelerating the availability of and access to reliable, competitive and clean energy, the speakers said, Bangladesh can support compliance with evolving international market requirements, respond to global brands’ decarbonisation ambitions, enhance energy security and productivity, and reinforce its position as a preferred and competitive global apparel sourcing destination.

Discussions highlighted that expanding access to clean energy is not only an environmental imperative but also an increasingly important commercial and competitiveness opportunity.

Greater availability of reliable and competitively priced renewable energy can help manufacturers reduce emissions and energy costs, respond to the expectations of international brands and markets, attract investment, and further strengthen Bangladesh’s position as one of the world’s leading apparel sourcing destinations, they said.

The discussion was informed by a keynote session combining international research, industry experience and Bangladesh-specific opportunities.

Kristina Elinder Liljas of the Apparel Impact Institute presented findings from Aii’s research on the landscape and opportunities to finance the decarbonisation of Bangladesh’s apparel manufacturing sector.

The research identifies Bangladesh as one of the countries with significant potential to reduce emissions across global apparel supply chains, while highlighting that USD 6.6 billion in investment is required to achieve 50% decarbonisation in the sector by 2030.

Randolph Brazier, Global Head of Clean Power Systems, Global Sustainability, HSBC Holdings PLC, and Justin Wu, Head of Sustainability and Climate Change, Asia and Middle East at HSBC, also presented their views on the clean energy potential for Bangladesh via Zoom.

Mahbub Rahman said,“As Bangladesh solidifies its global leadership in apparel, commercialising the energy transition is paramount. Unlocking private capital through supportive policy, scalable technology, and innovative financing will be the defining driver of future investment and competitiveness.”

The roundtable also highlighted the importance of international partnerships in supporting Bangladesh’s industrial transition.