The Recycling Industry of Bangladesh: Paving the Path towards a Greener Future
Waste generation has risen to alarming levels in recent years, with the World Bank reporting that the figure is expected to reach almost 3.88 billion metric tonnes by 2050. Population growth, the rapid urbanisation rate, economic expansion, and consumers’ indiscriminate consumption patterns are deemed to be the key reasons behind this ever-increasing waste generation. The state of our environment is a dire concern owing to the existing linear economic system (take-make-waste), and one of the most effective ways to combat this crisis is by championing the cause of recycling.
The rise in purchasing power of people in Bangladesh has led to increased consumption, eventually resulting in large-scale waste generation. Moreover, the informal recycling process is hindering the country’s efficient waste management, preventing Bangladesh from recognising its true potential in the recycling industry. However, adopting a circular economy, the alternative to the linear economic system, through waste elimination and replenishment of natural resources can not only unlock avenues for revenue streams but also pave the way for a greener future.
In a world of limited resources, recycling offers a beacon of hope and a tangible solution to mitigate the damage we have inflicted on our environment. By implementing a proper recycling process, Bangladesh can bolster its economic and environmental landscape by generating employment opportunities, promoting economic growth, and preserving natural resources.
Md. Shah Jalal
Editor
IDLC Monthly Business Review
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