Bashundhara Paper sector sets new standards in sustainability with inaugural report
In a landmark move for the Bangladeshi paper industry, Bashundhara Paper Mills Limited and Bashundhara Multi Paper Industries Limited have unveiled their first Sustainability Report, marking a significant step forward in their commitment to transparency and environmental, social, and governance (ESG) responsibility.
The report, released on 15 January at Bashundhara Industrial Headquarters-2 in Dhaka, is a testament to the companies' dedication to sustainable and responsible business practices, reads a press release.
Safwan Sobhan, vice chairman of Bashundhara Group, and Md Mustafizur Rahman, CEO of Bashundhara Paper Mills Ltd, led the unveiling ceremony.
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The event, attended by key officials including Mohammad Towfique Hasan, head of division, Marketing, BD & Sustainability Sector-C, and M Mazedul Islam, company secretary, Sector-C, highlighted the group's pioneering role in promoting transparency and sustainability in the region.
In preparing this comprehensive report, Bashundhara Group employed the principle of the 'Double Materiality' concept to determine its ESG reporting topics. This approach considers the risks and opportunities of both the nonfinancial (ESG) and financial perspectives. This dual perspective ensures a thorough and balanced representation of the company's sustainability journey.
The Sustainability Report-2022, covering the fiscal year 2021-22, is a groundbreaking document in the Bangladeshi paper sector. It aligns with the Sustainable Development Goals (SDGs) and adheres to the Global Reporting Initiative (GRI) Standard guidelines, setting a new benchmark for corporate responsibility in the industry. This comprehensive report not only details the ESG status of Bashundhara Paper Mills Limited and Bashundhara Multi Paper Industries Limited but also underscores their unwavering commitment to sustainable development.
A key focus of the report is the sustainable practices within the paper mills, highlighting responsible sourcing in both production and marketing. The report introduces impactful sustainability initiatives that have significant social and environmental implications. It outlines the Sustainability Pillars of the company, setting clear goals and targets up to 2030, thereby demonstrating a long-term commitment to sustainability.
Beyond presenting extensive data, the report includes case summaries that showcase the practical applications of the company's sustainability initiatives and campaigns. These real-life examples provide a tangible view of Bashundhara Paper Sector's dedication to sustainable practices. The baseline year of 2018/19 (pre-COVID) is used as a reference point, illustrating the substantial progress made in recent years.
