Daily Newsletter

14 December 2023

Daily Newsletter

14 December 2023

Bangladesh Apparel Exchange, Fashion for Good join forces to explore potential of chemical recycling

While the Bangladesh Apparel Exchange (BAE) and Fashion for Good have joined forces to explore the potential of chemical recycling technologies in Bangladesh, a local news agency shared 24 garment factories received green certifications in a span of six months.

Shemona Safaya December 13 2023

Non-profit Bangladesh Apparel Exchange and Amsterdam-based innovation platform, Fashion for Good recently hosted a roadshow: Chemical Recycling Technology, bringing together industry stakeholders to discuss innovating sustainable and circular solutions.

They explained that the event, emphasising the importance of circularity, is aimed at spreading awareness about the current "disruptive innovations" that could transform the industry's approach to waste and resource management, setting an example for future sustainable practices.

Bangladesh Apparel Exchange highlighted that the two-day visit capitalised on the nation's standing as a "major" garment production hub, delving into the potential of chemical recycling technologies to enhance environmental sustainability.

The event featured interactive sessions, factory visits, and knowledge sharing.

Mostafiz Uddin, founder and CEO of Bangladesh Apparel Exchange, emphasised the significance of this event for the wider Bangladeshi textile industry.

He said: "Bangladesh has the biggest manufacturing sector in South Asia and this tour marks a critical step towards a circular fashion ecosystem as well as exploring how the fashion industry can become more sustainable in Bangladesh. It's not just an event; it's part of a larger movement to incorporate innovative recycling, Sustainable Fashion technologies and establish global partnerships for a sustainable fashion industry."

Priyanka Khanna, innovation director - scaling at Fashion for Good, added: "Bangladesh is an important region for the textile industry worldwide and we are keen to share our knowledge around new innovations with the manufacturers here. Through this partnership we brought innovators; namely, teams from Circ and Infinited Fiber Company to interact, engage, and in the future partner with the local industry actors."

Bangladesh Apparel Exchange shared that Fashion for Good along with the two start-ups focused on textile-to-textile chemical recycling, Circ and Infinited Fibre, were the key stakeholders in this initiative.

24 garment factories in Bangladesh green-certified

According to Bangladesh's local news agency, The Daily Star, over the last six months, 24 garment factories in Bangladesh have received the Leadership in Energy and Environmental Design (LEED) awards from the US Green Building Council for their green initiatives. Citing the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), it reported 16 factories were rated Platinum and eight were Gold.

The Daily Star noted that with the newly-certified 24 factories, Bangladesh has made remarkable strides in sustainable fashion with 206 LEED green factories across the country, including 76 Platinum-rated and 116 Gold-rated, solidifying its commitment to environmental stewardship.

While Just Style did not receive comment from the BGMEA at time of press, the news report, citing stats from the trade body, suggests 54 Bangladeshi factories are rated among the top 100 LEED-certified buildings in the world. The BGMEA believes the development will propel the nation towards global leadership in eco-friendly garment production, attracting higher investment and partnerships.

Recently, fashion giants Bestseller and H&M Group said they are developing an offshore wind energy project in Bangladesh aimed at boosting the sector's transition to renewable energy.

Readymade garment (RMG) makers in Bangladesh are also being encouraged to explore new export markets, modernise production processes and upskill workers.

This follows a warning from the central bank of Bangladesh that the sector could see challenges over the next year on the back of global economic turbulence.

Global menswear market dynamics

Global menswear market is expected to grow at a CAGR of more than 4% by 2027, as consumer confidence takes time to rebuild following inflationary pressures. The popularity of the resale market will also somewhat hinder menswear retail growth, as more shoppers will divert spend away from traditional retailers and brands to secondhand channels, in a bid to save money and protect the planet.

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