Baku: Chief Adviser Professor Muhammad Yunus today said the world needs a new economic framework in an effort to tackle the climate crisis and create a new civilisation that works for the earth and its people. The Chief Adviser was speaking at a LDC high-level meeting with UN Secretary General Antonio Guterres on the sidelines of the COP29 in the Azerbaijan capital of Baku, according to a message received in Dhaka. Leaders of five major climate-vulnerable least developed countries – Nepal, Malawi, Gambia, Liberia, and Bangladesh – joined the close-door meeting.
According to Bangladesh Sangbad Sangstha, Prof Yunus emphasized the need for an economic framework that serves both the planet and its inhabitants, advocating for the UN-sponsored Summit for the Future to create an economic order for the world’s young people. He criticized the current economic system, which focuses on consumption and results in significant waste. Prof Yunus proposed a shift towards a zero-waste global economy.
Furthermore, Prof Yunus
argued that the COP climate conference should not be an annual event. He suggested that the world has enough knowledge to formulate a long-term, country-specific plan for climate mitigation, reducing the necessity for yearly negotiations, which he described as inefficient and degrading.
In his remarks, UN Secretary General Antonio Guterres highlighted the disproportionate impact of climate change on least developed countries (LDCs), calling it a significant injustice. Guterres expressed solidarity with these nations and urged for rigorous negotiations and effective mechanisms to secure increased funding for climate adaptation and mitigation.