Chief Adviser Professor Muhammad Yunus underscored the urgent need for a new economic framework to address the climate crisis and build a sustainable civilization that benefits both the planet and its people.

Professor Yunus made these remarks during a high-level meeting of Least Developed Countries (LDCs) with UN Secretary-General António Guterres, held on the sidelines of COP29 in Baku, Azerbaijan, according to a report received in Dhaka.

The closed-door session was attended by leaders from five climate-vulnerable LDCs: Nepal, Malawi, Gambia, Liberia, and Bangladesh.

"We need a new economic framework that serves the planet and the people," Prof Yunus said, adding that he backs the UN-sponsored Summit for the Future to create an economic order for the world's young people.

"We have created an economic framework based on consume, consume, and consume, and it only generates waste, waste and waste. We need to create a world of zero waste," he said.

The Chief Adviser said the COP climate conference should not be held every year.
 
"We know what the world needs, and we should make a long-term plan for that. It should be country by country. And we have to make the plan for long-term mitigation," Prof Yunus said.

"We don't need to meet here every year. Meeting every year to negotiate is time-consuming, wasteful, and humiliating," he added.  

The Chief Adviser also called for a new approach to climate negotiations, as the current approach has largely failed to meet the needs of much of the world.

UN Secretary General Antonio Guterres said the LDCs faced the greatest injustice as far as climate change is concerned.

"We want to tell you that we care about you," Guterres said, adding that the LDCs need to do hard negotiations and "serious mechanism" to secure a bigger fund for climate adaptation and mitigation.

BDST: 0932 HRS, NOV 14, 2024
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