ESG NewsCorporate Bangladesh has recently seen a rise in sustainable practices, with seven publicly traded companies earning Bloomberg scores for their ESG initiatives.
Grameenphone, BAT Bangladesh, Marico Bangladesh, Brac Bank, IDLC Finance, Square Pharmaceuticals, and Walton Hi-Tech Industries have joined over 16,000 global companies in earning Bloomberg ESG scores. However, their scores (23-40 out of 100) are lower than those of top Indian firms (50-70), highlighting a less developed sustainability ecosystem in Bangladesh.
Experts emphasise the importance of ESG ratings for attracting global investors as these considerations have gained significant traction among foreign investors, especially European institutional investors, who now require ESG compliance as a prerequisite for investment.
Keeping with this trend, several leading Bangladeshi firms have integrated the Sustainable Development Goals (SDGs) into their daily operations, aligning with ESG principles.
Bloomberg, a global ESG scoring entity, selects and rates quantifiable information from companies’ sustainability disclosures.
Investors using Bloomberg terminals rely on these scores for investment decisions.
Grameenphone, a telecommunication leader, has long practiced sustainability and publishes an annual report. It achieved the highest Bloomberg ESG score among Bangladeshi firms at 39.6, showing yearly improvement.
BAT Bangladesh, a tobacco leader, scored 35.4, followed by Marico Bangladesh, a hair care leader, with 34.9.
Brac Bank Ltd, a champion in SME lending and sustainability banking, scored 33.1, while IDLC Finance, the largest non-bank financial institute, scored 31.1.
Square Pharmaceuticals, a market leader, scored 26, and Walton, an electronics leader, scored 23.7.
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