The coastal aquaculture sector in Bangladesh is dominated by export-oriented freshwater prawn and brackishwater shrimp farming, both are commercially known as “white gold” because of transnational value. This article reviews prawn and shrimp farming in coastal Bangladesh that have been linked to a “green economy”. As part of agricultural development in coastal Bangladesh, prawn and shrimp farming were initiated in the 1970s. Over the last three decades, prawn and shrimp culture have undergone a revolutionary development in coastal Bangladesh. Prawn and shrimp farming have brought about widespread social and economic benefits. However, a wide range of environmental issues including climate change have recently been identified to threaten the sustainability of coastal aquaculture. In order to achieve a green economy, environmental challenges must be addressed in translating its benefits effectively to the millions of coastal poor. Considering the extreme vulnerability to the effects of climate change, an integrated green economy system needs to be introduced to cope with the challenges. Effective planning in respect to coastal zone management would also be given particular attention.