Unilever Bangladesh Limited (UBL), the country’s leading Fast-Moving Consumer Goods (FMCG) Company, is delighted to announce a new collaboration with the UK Government, EY, the SAJIDA Foundation and the British Asian Trust to launch the TRANSFORM Climate Challenge, a press release said on Wednesday.
This new impact accelerator aims to promote climate resilience and plastic circularity through innovative businesses in Bangladesh. Unilever, the UK Government and EY, are experienced collaborators on the TRANSFORM initiative, which has positively impacted the lives of 10 million people, 3 million of which are in Bangladesh.
The TRANSFORM Climate Challenge launch event was held at the residence of the British High Commissioner to Bangladesh. The British High Commissioner, H.E. Sarah Cooke, and Zaved Akhtar, Chairman and Managing Director of UBL, were in attendance. Senior officials of UBL and representatives from partners of the initiative were also present at the event.
Under the TRANSFORM Climate Challenge, innovative businesses can access more than BDT 5.5 crore in grant capital, business mentoring and have the opportunity to test innovations in corporate value chains.
Entrepreneurs can apply from 1 November 2023. Through TRANSFORM, the UK Government will provide successful applicants with grant funding of up to BDT 9,000,000 per enterprise to test and scale their projects. This is combined with learning, exchange and networking opportunities with other grantees and business support from Unilever and EY through TRANSFORM.
The new report highlights the impact of the surge in plastic waste generation, exacerbated by inadequate waste management infrastructure, limited recycling facilities, and inadequate public awareness.
E. Sarah Cooke, British High Commissioner to Bangladesh, said: “Partnership and innovation are key parts of the TRANSFORM model. The combination of the UK Government’s grant funding, together with Unilever and EY’s expertise and network accelerants, will help support social enterprises increase their positive impact in tackling major environmental challenges.”
Zaved Akhtar, Chairman and Managing Director, of Unilever Bangladesh Limited (UBL), said: “Our experience has shown that solving complex plastic waste management challenges requires disruptive solutions from innovative startups and new businesses. The partnership between the UK Government, Unilever, and EY, leading to the creation and expansion of TRANSFORM, reflects this collaborative spirit. I congratulate the team for crafting a holistic programme that paves the path towards circularity in our country.“
