Fashion industry joins forces with the renewable sector to decarbonise production in Bangladesh.

Global Fashion Agenda, Copenhagen Infrastructure Partners and international fashion companies BESTSELLER and H&M Group have announced their intention to develop the first offshore wind project in Bangladesh.

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  • International fashion companies BESTSELLER and H&M Group have pledged to invest in the first early-development offshore wind project in Bangladesh.
  •  The investment commitment was initiated by Global Fashion Agenda, which is in discussions with other fashion brands to join.
  • The wind project in Bangladesh, developed by Copenhagen Infrastructure Partners (CIP), is projected to reduce emissions by ~725,000 tonnes annually.

 

5 December: Today, at COP28 in Dubai, non-profit organisation Global Fashion Agenda (GFA), Copenhagen Infrastructure Partners (CIP) and international fashion companies BESTSELLER and H&M Group announce their intention to develop the first offshore wind project in Bangladesh, a project with the potential to significantly increase the availability of renewable energy in one of the fashion industry’s most important manufacturing countries.

 

More than 70% of the fashion industry’s GHG emissions come from upstream activities and current operations predominantly rely on non-renewable energy sources, such as petroleum, gas, oil, and coal. Changing the industry power supply to renewable energy requires new infrastructure solutions at scale. To ensure and accelerate decarbonisation, GFA is advocating collective investments by fashion brands in new renewable energy generation.

Today at COP28, BESTSELLER and H&M Group have pledged to invest in the first utility scale offshore wind project off the coast of Cox’s Bazar, Bangladesh. The groundbreaking energy project is being developed by Copenhagen Infrastructure Partners, a global leader in renewable energy investments. Global Fashion Agenda has advocated the need for collective investments of fashion brands to secure large-scale, cost-effective supply of renewable energy in manufacturing countries, and GFA now calls for other fashion brands to co-invest in the wind plant and potentially future energy projects.

A first of its kind project

The offshore wind project is currently in early-stage development by CIP in collaboration with a local partner Summit Power. If development is successful, operations are expected to commence in 2028. The wind project would have an approximate capacity of 500MW, making it the first utility-scale offshore wind farm in Bangladesh to support the country in reaching its goal of supplying 40% of the nation’s power from renewable sources by 2041. The project is expected to contribute to substantial job creation, stabilise energy supply, and reduce emissions by approximately 725,000 tonnes annually.

 

The wind project has been identified as the first renewable energy project on such a large scale in the important fashion manufacturing region. Therefore, GFA is calling for stakeholders in the fashion industry and beyond to come together and engage in facilitating renewable energy solutions. Get in touch at impact@globalfashionagenda.org

Thomas Tochtermann
Thomas Tochtermann Chairman, GFA and Director Emeritus, McKinsey & Company, Inc.
"Renewable energy availability is a necessity if we are to truly transform the emissions trajectory of the fashion industry, and collective action is essential to realising this. I am proud to present this industry-led investment for crucial renewable energy infrastructure in Bangladesh, one of the key manufacturing countries. Global Fashion Agenda and Copenhagen Infrastructure Partners invite stakeholders from the fashion industry and beyond to be part of the solution and join this endeavour."
Niels Holst, partner and co-head of the Growth Markets Fund, Copenhagen Infrastructure Partners
"We are delighted to work closely with leaders in the fashion industry. If successful, the Cox Bazar Wind Farm and the collaboration with Global Fashion Agenda, BESTSELLER, H&M Group, and other fashion brands will represent a transformative model to progress a just and rapid energy transition in a number of the most vulnerable and carbon intensive countries."
Anders Holch Povlsen, CEO, BESTSELLER
"Our industry has an important role in contributing to the global, green transition, and in BESTSELLER we are committed to doing so. By pledging to invest significantly in the offshore wind park in Bangladesh, we can support the availability of renewable energy in one of our key manufacturing countries and aim to reduce climate emissions from our supply chain. It's a responsibility we share with the global fashion industry, and we encourage other fashion companies to share the opportunity with us."
Helena Helmersson, CEO, H&M Group
"For us, this is a great example of how a collaborative approach on sustainable financing solutions and policy work can go hand in hand to overcome industry-wide challenges. We are grateful for the engagement we have had with local stakeholders and excited to see our joint efforts coming to life. The nearshore wind park in Bangladesh is an important step for the transformation of the Bangladesh renewable energy market and we believe that this will contribute greatly to the decarbonisation of the garment industry as a whole."

Find out more about how to get involved in the renewable energy project here.

The Danish Pavilion at COP28 will host an event to launch the groundbreaking investment in Bangladesh on 6 December. More information can be found here.

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