Sustainability now a business strategy, not just compliance: Experts
Philip Kotler urges businesses to shift from low-cost production to innovation and sustainability to stay competitive in global markets.
Sustainability has become a core business strategy rather than merely a compliance requirement as businesses face growing pressure from customers, investors and export markets to adopt responsible practices, speakers said at the Sustainability Summit 2026 in Dhaka today (18 July).
Speaking at the summit, organised by Bangladesh Brand Forum and Sustainable Brand Initiative, marketing expert Philip Kotler said businesses must move beyond low-cost production models and focus on innovation, productivity and sustainable value creation to remain competitive.
M Mashrur Reaz, chairman and founder of Policy Exchange Bangladesh, said Bangladesh's upcoming graduation from the least developed country (LDC) category makes responsible business conduct and sustainability reporting increasingly important for exporters.
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Meanwhile, Dr Melita Mehjabeen, professor at the Institute of Business Administration (IBA) at the University of Dhaka, said Environmental, Social and Governance (ESG) reporting, transparency and supply chain traceability are emerging as key determinants of business trust as global buyers look beyond price and quality.
At a panel discussion titled "From Boardroom to Bottom Line: Embedding Sustainability into Business Strategy," business leaders said sustainability is now central to long-term competitiveness, helping companies improve resource efficiency, reduce costs and strengthen resilience.
The sustainability summit held in the capital brought together business leaders, policymakers and experts to discuss sustainability, ESG reporting and responsible business practices in Bangladesh.
