7 Bangladeshi firms on Bloomberg’s sustainability list

October 29, 2023

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Seven Bangladeshi firms have secured a place on Bloomberg’s sustainability list, joining over 16,000 global corporations. These firms were placed on the highly prestigious list based on their strong performance in environmental, social, and governance (ESG) areas. The firms are: Grameenphone, British American Tobacco (BAT) Bangladesh, Marico Bangladesh, BRAC Bank, IDLC Finance, Square Pharmaceuticals, and Walton Hi-Tech Industries.

Bloomberg, a leading global ESG rating organisation, assesses firms by voluntarily selecting pertinent, measurable data from their standard sustainability reports and assigning scores based on this information. This evaluation is important as investors using these scores make their investment decisions. ESG ratings are now vital for attracting global investors, especially European institutional investors, who require ESG compliance for investment.

Grameenphone received the highest score (39.6) among Bangladeshi firms in Bloomberg’s ESG Universe. BAT Bangladesh holds the second position with a score of 35.4, while Marico Bangladesh, is close behind in third place with a score of 34.9.

BRAC Bank Limited holds a Bloomberg ESG score of 33.1. Following closely is IDLC Finance with a score of 31.1. Square Pharmaceuticals has a rating of 26, and Walton is scored at 23.7.

Hans Martin Hoegh Henrichsen, Chief Corporate Affairs Officer, Grameenphone, said, “Grameenphone’s commitment to empower societies is at the heart of our purpose of doing business. Since inception, our journey unfolds with the story of connecting the rural marginal communities, especially women, and upliftment of their livelihood. As an integral part of business, we adhere to the high standards of environmental, social, and governance (ESG) practices, creating value for our customers, employees, and society. As a growing telco-tech company, our ongoing efforts include carbon footprint reduction aligned to SBTi (Science Based Targets initiative), driving digital inclusion, online safety and upskilling the youth, with high focus on addressing the gender gaps to contribute to the country’s social and economic progress.”

When compared to their regional peers, Bangladeshi firms, however, have lower Bloomberg ESG scores (23-40). The top 100 Indian firms, for example, score higher (50-70), signifying a stronger sustainability performance, with a total score out of 100.

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