Promote ethical investment to ensure positive impact of business on society

6 November


THERE are over 50 industrial zones in Myanmar, and 29 zones with 3,560 factories are reportedly located in Yangon Region alone.  


Industrial zones and factories are sine qua non for economic development. They are the driving force for the development of a country. But, we need to focus on their im-pact to ensure the sustainability of the natural environment. When an investment is proposed, we need to consider how it will affect the natural environment and the living creatures that rely on it.


In  Myanmar,  river  pollution  is  getting  worse.  Factory  wastewater  is  the  main  cause  of  pollution  in  the  rivers.  It  makes the water toxic and harms aquatic creatures. Among the  factories  that  discharge  untreated  wastewater  into  rivers  through  ditches,  creeks,  and streams, textile factories and distilleries have the worst record.


About  60  per  cent  of  private  investment  companies  are in the food and beverages sector.


The capacity of the small-est distilleries is 4,000 gallons a day and the largest factory has been producing 30,000 gallons a  day.  Wastewater  discharge  from those factories amounts to  4  million  gallons  per  day.  Out of those distilleries, only a few  factories  have  completed  building wastewater treatment systems, according to a survey.


In  some  instances,  untreated  water  dumped  by  factories  has  killed  fish  and  damaged crops.In a recent incident, villagers complained against a factory for discharging untreated water into a river on which they rely for bathing and household use after adults and children suffered skin diseases.


In  some  cases,  local  people  have  protested  against  factories  for  emitting  ash  with  sparks  and  foul  smell,  causing  air pollution.


Such  incidents  have  given  rise  to  concerns  about  businessmen  making  investments  only  for  production,  without  regard to waste treatment.


If companies violate health, safety, employment, and environmental standards, then law enforcement and regulating agencies that are charged with designing and enforcing these rules  should  take  action  as  soon  as  possible  to  ensure  the  situation does not get worse.


However much we wish exemplary behavior among factories, what we want to see is these companies acknowledging the importance of issues such as climate change, human rights, and social responsibility for sustainability.


Ethical  investment  deserves  our  patience.  But  there  is  an  urgent  need  for  law  enforcement  to  ensure  responsible  investment  that  has  a  positive  impact  on  society  and  the  environment.