Denim Expert, Green Delta get WEF honourable mentions

Two Bangladeshi companies – Denim Expert Ltd and Green Delta Insurance Ltd – have received honourable mention from the World Economic Forum (WEF) in the Excellence in Sustainability category.

The WEF on Monday also announced the names of three winners of the New Champions Awards – under the Sustainability, Digital Disruption and Agile Business Governance categories – and they are Gemini Corporation, Optel Group and Risk Insights, respectively.

Additionally, the forum announced the names of three organisations who received honourable mention. Among them, Denim Expert Ltd is a denim garment exporter based in the Karnaphuli EPZ of Chattogram, while Green Delta Insurance Ltd works in the insurance sector.

Speaking with The Business Standard, Denim Expert's Managing Director Mostafiz Uddin said, "Everyone knows Bangladesh as a country where the Rana Plaza incident took place, but this is not the complete scenario of the country's apparel industry."

"The WEF recognition not only brings honour to Denim Expert Ltd, but to Bangladesh as well. This recognition will help us boost the branding of Bangladesh," he added.

The WEF noted, "Denim Expert Ltd is a niche denim manufacturing plant in Bangladesh that is actively working to promote sustainability and inclusivity in the country's apparel industry." 

"In 2019, the firm set sustainable goals and targets across several areas, including reducing the consumption of energy and water, CO2 emissions and waste generation. In association with USAID, the firm is also working to provide opportunities to the transgender people and human trafficking survivors," it continued. 

About the second Bangladeshi company, the WEF stated, "Green Delta Insurance Company Limited [GDIC] is the largest insurance company in Bangladesh. Working with the Ministry of Health and Economics, the firm worked to provide affordable Universal Health Coverage which now impacts 82,000 households directly and 65,000 people indirectly."

Managing Director and CEO of the Green Delta Insurance, Farzanah Chowdhury shared, "We at GDIC have made sustainability an integral part of everything we do. We are truly honored to be recognised as a New Champion organisation by WEF for excellence in sustainability!" 

"My heartiest congratulations to all my fellow members of Green Delta family, as their dedication and hard work have made such recognition possible," she added. 

From their impact on the planet and society to how they can participate in building a better future, the World Economic Forum's New Champion companies are doing just that – exploring the new business models, emerging technologies and sustainable growth strategies that will be vital in the Fourth Industrial Revolution, said the WEF.

The WEF web portal mentions that the forum's New Champions Awards has recognised three organisations with the potential to create real long-term change through the areas of sustainability, digital disruption and agile governance.

Winning projects must have the potential to deliver a substantial impact on business and society, be financially viable and ready to operate at scale – or already be doing so, it read.