HSBC Bangladesh has recently partnered with Bangladesh Economic Zones Authority (BEZA) and BRAC to build a Green Economic Zone in Mirsarai, a release said Wednesday.
The collaboration will ensure over 40,000 mangroves plantation across 10 acres of coastal land in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) at Mirsarai. HSBC has dedicated this plantation to commemorate the 46th National Mourning Day.
The mangrove plantation is estimated to capture 492 tons of carbon each year. HSBC will also support Covid-19 awareness campaign and skills development program in the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN).
To mark the inauguration of this initiative HSBC CEO Md Mahbub ur Rahman planted saplings at the Bangabandhu Sheikh Mujib Shilpa Nagar in Mirsarai. During this event, he was accompanied by M. Erfan Sharif, Additional Secretary, Executive Member, BEZA, Md Liakath Ali, Director, Climate Change Programme, BRAC and BRAC Internationaland colleagues from HSBC.
Commenting on the initiative, Shaikh Yusuf Harun, Executive Chairman, BEZA said, “BEZA is always supportive of sustainable industrialization – plantation to restore environment has been part of our key activities. In collaboration with HSBC, this initiative of Mangrove plantation in Bangabandhu Sheikh Mujib Shilpa Nagar is a phenomenal example of partnership with a financial institution for climate solution in an economic zone.
Md. Mahbub ur Rahman, Chief Executive Officer, HSBC Bangladesh said, “As part of commemorating the National Mourning Day in this month of August, HSBC Bangladesh has proudly partnered with BEZA and BRAC in bulding a greener Bangabandhu Sheikh Mujib Shilpa Nagar at Mirserai and took the initiative of mangrove plantation in this economic zone. Mangrove forest is known for its incremental carbon capture capacity and it can grow well in the coastal area where water salinity is high. This is the very first mangrove initiative by a private sector amongst all the economic zones in Bangladesh and will play its part in ecological development in the area. This is also in alignment with our HSBC group commitment towards the global carbon transition to net zero emissions”.
Md Liakath Ali, Director, Climate Change Programme, BRAC and BRAC International said that “Mangrove plantation is a naturebased solution and one of the most effective actions for offsetting the global emission of GHGs. BRAC has been doing similar work for long and happy to be part of this noble initiative jointly with HSBC.”
