Inevitability of environmental CSR in dire environmental difficulties and its ways-out: Bangladesh perspective

For being a populated country with inadequate resources, the present environmental state of Bangladesh is alarming due to on-going exhaustion of the natural environment and its consequences on society. In Bangladesh, human health, ecosystems and economic growth are threatened by severe environmental pollution and other environmental concerns. Bangladesh is facing several natural catastrophes such as floods, cyclones, and tidal-bores every year due to the environmental externalities which cause severe socio-economic and ecological damage. Thus, this study aims to highlight various ecological difficulties currently faced by Bangladesh and its impact on human life and nature. In addition, this study also focuses on the essence of implementing environmental CSR for sustainable development. From the literature review, it was found that several environmental concerns such as air, water and soil pollution, climate change, and the loss of biodiversity are continuously degrading the natural environment of Bangladesh and its resources. Concurrently, all these environmental concerns are creating a negative impact on the socio-economic growth of Bangladesh and its environment. Hence, corporate social responsibility, mainly, corporate environmental responsibility can play a significant role in their environment-related activities to lessen the current environmental degradation of Bangladesh. At the same time, the government should undertake several initiatives to protect environmental degradation and foster the environmental CSR activities within all business sectors and increase environmental awareness which is mandatory in order to attain sustainable development.