Fashion giants H&M Group and Bestseller, in collaboration with the Global Fashion Agenda (GFA), have committed to investing up to US $ 100 million in Bangladesh’s first offshore wind project, unveiled at COP28 on 5th December.
This pioneering effort, still in its early stages, aims to streamline the fashion sector’s transition to renewable energy.
The offshore wind farm, with a proposed 500 MW capacity off the coast of Cox’s Bazar, targets operation commencement in 2028, potentially reducing CO2 emissions by around 725,000 tons annually.
Aligned with Bangladesh’s goal of fossil fuel independence, the project supports job creation and enhances energy stability.
Led by Copenhagen Infrastructure Partners (CIP), a renewable investments leader, the initiative involves collaboration with Bangladeshi authorities and key partners, pending approval after necessary analysis and environmental tests.
Part of the broader Global Fashion Agenda initiative, the project exemplifies a concerted effort to propel the fashion industry toward a sustainable future, emphasising the importance of renewable energy in manufacturing countries.
