Economic Enhancement Through Green Innovation in Informal Manufacturing Sector of Bangladesh: An Analysis

Abstract

This chapter explores the transformative potential of green innovation within the informal manufacturing sector of Bangladesh. It presents an empirical analysis aimed at uncovering the economic benefits derived from integrating green innovation practices into informal enterprises. Through a comprehensive field investigation, the study highlights how green initiatives can act as catalysts for enhancing economic performance, promoting sustainability, and improving competitiveness in a market increasingly conscious of environmental impact. The research adopts a qualitative methodology, engaging with a variety of stakeholders including small-scale manufacturers, local entrepreneurs, and policy-makers within the Comilla district of Bangladesh. It identifies key challenges and opportunities faced by informal enterprises in adopting green technologies and practices. The findings suggest that, despite existing barriers, there is a notable enthusiasm and potential for green innovation as a means to achieve economic growth and environmental sustainability simultaneously. Key insights reveal the importance of supportive policies, access to green finance, and the need for awareness and training programs for the needs of the informal sector. This chapter argues that fostering a conducive ecosystem for green innovation not only contributes to the economic enhancement of informal manufacturers but also aligns with broader national goals of sustainable development. This analysis contributes to the discourse on environmental sustainability and economic development by providing evidence-based recommendations for integrating green innovation into the informal manufacturing sector of Bangladesh, offering a scalable model for similar economies globally.

Citation

Ali, M.M., Vargas-Hernández, J.G. and Zamudio-Abdala, J.H. (2024), "Economic Enhancement Through Green Innovation in Informal Manufacturing Sector of Bangladesh: An Analysis", Pal, M.K. and Das, P. (Ed.) Informal Manufacturing and Environmental Sustainability, Emerald Publishing Limited, Leeds, pp. 57-66. https://doi.org/10.1108/978-1-83549-998-620241005