As the world confronts the pressing challenge of climate change, the global push toward decarbonisation has gained momentum, with major economies like the EU, US, and Canada pledging to achieve net-zero and strengthening legal frameworks for businesses to address climate issues. Industries worldwide are setting net-zero targets in line with Science Based Targets (SBT) to reduce emissions and mitigate global warming. The global fashion industry, responsible for nearly 10 percent of global greenhouse gas emissions, is under increasing scrutiny. For Bangladesh, where the ready-made garment (RMG) industry contributes over 80 percent of export earnings and approximately 11 percent of GDP, this challenge is particularly significant. The key question now is whether the industry is ready to commit to a net-zero target by 2050.

The good news is that Bangladesh's RMG industry has already made significant strides. With 233 factories LEED-certified—93 Platinum-rated—the sector has shown it can adopt greener practices. Many factories have implemented large-scale solar rooftop projects, embraced circular economy principles, and invested in energy-efficient technologies, laying a solid foundation for deeper climate commitments.

However, challenges remain. Scaling the use of renewable energy across all factories, improving energy efficiency, and achieving a circular economy for textiles are still major hurdles, especially for SMEs. Infrastructure limitations, limited access to affordable green financing, and the high cost of transitioning to greener technologies present barriers that can slow progress.

Demand for eco-friendly supply chains is stronger than ever as major brands are aligning themselves with net-zero targets. Regulatory shifts like the EU's Carbon Border Adjustment Mechanism (CBAM) could impose carbon tariffs on exports from high-emission countries, affecting Bangladesh's RMG exports if swift action isn't taken. The rise of sustainability-linked financing means that access to international capital could soon depend on the industry's carbon footprint. These trends create pressure but also opportunities for Bangladesh's RMG sector to step up its sustainability game.

Achieving a net-zero target by 2050 is ambitious but not impossible for Bangladesh's RMG industry. Opportunities to lead on climate action exist, given the sector's size and influence on the global fashion supply chain. For this vision to become a reality, a strategic and coordinated approach is essential. The industry must continue its transition to renewable energy, scale solar energy usage, collaborate with power companies, and invest in energy-efficient technologies. Reducing emissions across the supply chain, particularly in logistics, dyeing, and finishing processes will require innovative solutions. The sector must also explore circular economy practices, like recycling textiles and minimising waste.

Government support is vital to meet the 2050 net-zero target, with policies that incentivize green investments, such as tax breaks for companies adopting renewable energy. Providing clear guidelines for CPPA (Corporate Power Purchase Agreement) could ease access to green energy for the RMG industry. Immediate, short, medium, and long-term strategies are necessary to ensure growth and employment. International cooperation is also essential during such a time as the RMG sector requires global financial and technical resources, especially after Bangladesh graduates from its least developed country (LDC) status, as this could limit development assistance. International partnerships with development agencies, trade agreements, and sustainability-linked financing are key to making net-zero a feasible goal.

While the 2050 target is ambitious, it is not impossible. The world is changing, and industries that fail to adapt to climate demands will lose in a marketplace where sustainability is non-negotiable. Bangladesh's RMG industry can lead the charge by embracing innovation, strengthening partnerships, and advocating for stronger policies. To achieve this, all stakeholders—from manufacturers to policymakers—must collaborate, investing in green technologies and workforce training to ensure the transition is smooth. By setting ambitious goals with a realistic view of the challenges, Bangladesh can become a global leader in sustainable apparel production by 2050.

The author is the additional managing director of Denim Expert Ltd