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Although there are charities, NGOs, and aid organizations, substantial doubts remain concerning the types of programmes that might alleviate a country's green or sustainability problems. As Bangladesh approaches its goal of attaining middle-income status, its economy is currently experiencing a surge. The rapid depletion of natural resources, emission of greenhouse gases, and disposal of hazardous waste have all been facilitated by the thriving industrial sectors. These factors, in turn, can worsen the uncontrolled degradation of air, soil, and water. Nevertheless, the adverse impacts of prolonged environmental degradation and the depletion of natural capital in Bangladesh have affected various sectors, including human health, agriculture, forestry, fisheries, industrial productivity, and environmental services. In addition, Bangladesh has been experiencing high population density, poverty, and dependence on climate-sensitive sectors including water resources, agriculture, fisheries, and livestock for water and food security. As a result, green or sustainable practices are of the utmost importance in Bangladesh.
Consequently, the author proposed a novel business model known as "green sustainable business" and compared and contrasted it with similar entities such as social business, profit maximizing business (PMB), non-profit organisations (NPOs), non-governmental organisations (NGOs) and corporate social responsibility (CSR).
A social business is a non-loss, non-dividend organisation that operates in the current highly regulated marketplace to address a social objective. Social businesses need to make a small profit to pay market-rate wages to employees, expand the company's reach, develop the product or service, or fund the social goal.
The dimensions of sustainability include economic, social and environmental sustainability. A green sustainable business is a special form of business that works to solve environmental problems by using sustainable resources and following rules that are good for the environment. Such businesses strive to have a beneficial impact on the environment while also making a profit. The main difference between social business and green sustainable business is that the former mainly deals with social issues, while the latter addresses the environmental dimension of sustainability.
Additionally, profit maximization business and green sustainable business should not be confused. A profit maximising business (PMB) can continuously make profits by reinvesting profit for an unlimited amount of profit. A green sustainable business, on the other hand, tries to achieve full cost recovery rather than the maximum possible amount of profit while simultaneously addressing environmental sustainability. Hence, the primary goal of a green sustainable business is to solve any environmental issue with a small profit, whereas the primary goal of a PMB is to make a profit.
On the contrary, "a non-profit organization exists in order to fulfill the social objectives".
Someone might wonder if there is a difference between non-governmental organisations (NGOs) and green sustainable businesses. Most NGOs are not created to acquire their total cost from their operation. A green sustainable business, on the other hand, is a self-sustaining business that returns investment to its owners with the primary goal of resolving any environmental issue.
People can also compare corporate social responsibility (CSR) and green sustainable business. A CSR division of a company may donate money to disabled people, provide scholarship to poor students, etc. that are mostly used to build the image of the company. A green sustainable business, on the other hand, is directly involved in business activities that also resolve any environmental issue.
Bangladesh is working towards a green and sustainable growth path by promoting environmental sustainability, sustainable energy, and green policies, and by implementing projects that help restore degraded forest ecosystems and conserve biodiversity. The country has made remarkable strides towards environmental sector development. The reason is that when the market or state fails to deliver the basic needs, many activists and NGOs interact with environmental safety nets. Hence, green sustainable business can arise that will actively address and solve those environmental challenges while also contributing directly to the country's development, unlike many other forms of business. Green sustainable business can improve their brand's reputation, and develop trust with partners and the community by demonstrating concern and respect for environmental considerations. By adopting a values-driven approach when developing business strategies, business can be vital to long-term success. Thus, a green sustainable business can be used as a tool to reach some of the world's most pressing environmental goals.