Speakers at an international conference in city Friday urged the government to formulate environment-friendly policies to ensure responsible and green business.

They urged the financial institutions to frame lending policies to pursue 'green banking' in a more effective manner, as such banking has been identified as one of the major drivers of sustainable economic growth in developing countries.

"We have been working to turn our entire banking system into 'green banking' to ensure responsible business and sustainable development. But we need more specific green policies for various sectors," said SK Sur Choudhury, Deputy Governor of the Bangladesh Bank while inaugurating the function.

His observations came at the opening session of two-day conference organised by the SR Asia.

Bangladesh is hosting SR Asia 2013 International Conference jointly organised by the SR Asia, the CIRDAP and the Bangladesh Bank Training Academy with support of international organisations like GIZ, Swisscontact, IPLA, APO, E&Y, etc. The Financial Express is the media partner of the conference.

The conference began with welcome address by SR Asia Bangladesh Country Director Sumaya.

The inauguration session was moderated by Birendra Raturi, International Director - SR Asia. Other guests in the inaugural session were Md. Sabur Khan, President DCCI, Dr. Cecep Effendi, Director General, CIRDAP and Khondaker Mostan Hossain, Joint Secretary (International Organisations), the Ministry of Labour  and Employment.

The theme of the conference is 'Responsible Business Conduct to Safeguard the People's Issues and Environment by Managing Hazardous Waste." The title of the first session was on 'Green Banking: Bangladesh Bank's Initiatives & Promoting CSR, Environmental Aspect'.

The Deputy Governor said, "All banks have their general credit policies for lending sectors. But the nature of various sectors is different from environmental perspective. So, preparing sector-specific environmental policy guidelines for the banks is a big challenge."

He said the Bangladesh Bank is going to be number one bank in terms of financial inclusion within years.

"I am convinced that with the level of enthusiastic commitment and engagement demonstrated by our financial sector, green banking initiatives in Bangladesh will keep attracting yet wider recognition and attention from outside our borders," he said.

SK Sur Chowdhury said Bangladesh is one of the most climate change vulnerable countries. As a result, the country does not have any other option but to adapt to a system that would play an important role in coping with varying environmental scenario, he added.

"In this scenario, banks are required to protect their financing from the risks of a deteriorating environment and ensure sustainable banking practices," he said.

Sabur Khan urged the central bank to formulate more flexible lending policies for sustainable development.

"If the central bank only focuses on environment, sustainable development may lose its right direction," he said.

He said hazardous waste has been considered as one of the prime dangers Bangladesh as a country faces and has its negative implications on environment, occupational health and safety of people and the entire system around.

The SR Asia conference deliberates on global perspectives and trends on responsible business conduct while focusing on waste management system and impacts on developing countries.

During the first session, Khandaker Morshed Millat, Deputy General Manager of the Bangladesh Bank, spoke on 'Green Banking: Bangladesh Bank's Initiatives and Bank's Activities,' Islami Bank Bangladesh Limited Deputy Managing Director AKM Abdul Malek on 'Green Banking Policy of IBBL' where Md Abdul Awwal Sarker, General Manager of the Bangladesh Bank Training Academy moderated.

Morshed Millat said the door of the Bangladesh Bank is always open for any new financial proposal for ensuring environment-friendly economic growth.

AKM Abdul Awal said since inception, the IBBL has been taking environment-friendly policies for its customers, even before formulating green banking laws and regulations.

Business leaders, bankers, professionals and civil society organisations took part in the event.

News:The Financial Express/30-Nov-2013