Bangladesh’s corporate sector is showing steady progress in sustainability as 11 listed companies have now secured spots in Bloomberg’s Environmental, Social, and Governance (ESG) club. This marks a rise from 10 firms last year and only 7 in 2023, reflecting a growing commitment to responsible business practices.
Bloomberg’s ESG ratings are based on three key criteria: environmental stewardship, social responsibility, and good governance. This year, Brac Bank topped the list with an average score of 3.80, followed by IDLC Finance (3.51), while City Bank made its debut at third place with a score of 2.64. Mercantile Bank also entered the list for the first time, ranking 11th with 0.97.
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Several companies improved their positions. LafargeHolcim Bangladesh rose to 4th from 6th last year, while BSRM jumped from 10th to 7th. At the same time, some slipped down the rankings. Grameenphone dropped to 5th from 3rd, British American Tobacco Bangladesh moved to 6th from 4th, and Walton fell to 10th from 7th. Meanwhile, MJL Bangladesh and Square Pharma maintained their 8th and 9th spots. Marico Bangladesh, however, failed to retain its place on the list this year.
Industry experts say that although Bangladesh has been slower than some peers in adopting ESG practices, compliance pressures from global buyers are helping more firms integrate sustainability into their operations. Analysts also note that Bloomberg’s ESG ratings serve as an important indicator for foreign investors, and Bangladesh’s progress will likely boost confidence in its capital market.
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Company leaders welcomed the recognition, saying it reflects their commitment to ethical governance, sustainability, and long-term value creation. Bloomberg, a global leader in financial information and analysis, has been publishing ESG ratings worldwide since 2020, with Bangladesh first included in 2023.