Create better work culture for sustainability

Companies can create a better work culture and work-life balance for employees and contribute to customers and the world by implementing proper steps to create businesses that are more sustainable, said speakers yesterday. 

Addressing a CXO Summit 2022 at Radisson Blu Dhaka Water Garden, they said companies were now looking at ways to reduce their environmental impact as sustainability has come to the mainstream in recent years.

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Organised by the Valor of Bangladesh, the event aimed to provide a forum for senior corporate executives to come together, exchange knowledge, and look for solutions.

"As a financial institution we have to ensure profitability. But sustaining that profitability through economic development and social aspects, that's very key for us," said Enamul Huque, country head of corporate, commercial and institutional banking of Standard Chartered Bangladesh.

"At the same time, we want to achieve net zero emission guidelines and the UNDP Sustainable Development Goals. We believe that it is possible to create a positive outcome through our businesses, strategies and stakeholders," he said.

Companies are now looking at ways to reduce their environmental impact as sustainability has come to the mainstream in recent years

"If we want to have real impact to make our society sustainable, it really needs that public-private and development agencies come together," said Yasir Azman, chief executive officer of Grameenphone.

Environmental, social and governance (ESG) principles play an important role in the effort to increase focus on sustainability, said Suraiya Zannath, lead financial management specialist for the Bangladesh program of the Governance Global Practice of World Bank.

The ESG standards are used by socially conscious investors to screen potential investments, she said, adding, "…we all know that when it comes to investment, what matters is particularly the ESG."

"A few years back we were all looking at the economics analysis. We were looking at the rate of return on the financial investment. We are looking at the credit ratings, loans," she said.

"How actually the ESG came into play…because consumers' behavior has changed and focused on becoming the word that all are using -- sustainability," ‍she added.

Bangladesh has many governance issues and all attention at this moment needs to be on improving governance, said Shibli Rubayat-Ul-Islam, chairman of the Bangladesh Securities and Exchange Commission.

"We are identifying the problems and things are changing and governance will improve," he added.

He said if companies can make profit and generate employment, no one can stop Bangladesh's development. "If you make a profit, you will pay taxes that will help the country to grow," he added.