Chief Adviser Prof Muhammad Yunus returned home on Monday evening ending his very engaging stay in Azerbaijan capital Baku, keeping Bangladesh's voices heard on climate concerns. A flight of Biman Bangladesh Airlines carrying the Chief Adviser and his entourage reached Hazrat Shahjalal International Airport in Dhaka at 8:07 pm, CA's Deputy Press Secretary Apurba Jahangir told UNB. On his arrival, Prof Yunus inaugurated a lounge for Bangladeshi migrant workers and their families at Hazrat Shahjalal International Airport. After the inauguration, he spoke to some migrant workers and enquired about their wellbeing, said Deputy Press Secretary Abul Kalam Azad. COP29: Chief Adviser Yunus reaches Azerbaijan Prof Yunus had a series of meetings with global leaders on the sidelines of the UN's biggest climate conference, COP29, apart from delivering speech at the Leaders Summit. On November 12, the Chief Adviser joined the opening session of COP29 and met at least 20 leaders of countries and heads of international agencies. He met Turkish President Recep Tayyip Erdogan and the Turkish First Lady at the summit of the world leaders at the COP29 venue. Prof Yunus also met UAE President Sheikh Mohamed bin Zayed Al Nahyan; Pakistan PM Shehbaz Sharif; President of the Maldives Mohamed Muizzu; Bhutan PM Tshering Tobgay; and Nepal President Ramchandra Paudel. He met the PMs of Belgium, Bosnia Herzegovina, Albania, Barbados, presidents of Ghana, Rwanda, Montenegro, vice presidents of Brazil and Iran, president of FIFA, and the director general of IOM. Addressing the opening session of the World Leaders Climate Action Summit in COP29, the Chief Adviser called for creating a new lifestyle based on zero waste and zero carbon to protect the planet from climatic catastrophe. He joined an LDC high-level meeting with UN Secretary General Antonio Guterres. On Wednesday, Prof Yunus also joined a number of events on the sidelines of COP29. Before flying from Baku, he met Azerbaijan President Ilham Aliyev at the COP29 climate summit venue. Prof Yunus also held a meeting with former British Prime Minister Theresa May on the sidelines. Lu Alckmin, wife of the vice president of Brazil Geraldo Alckmin, called on the chief adviser at the venue of the COP29 global climate summit today.

Seeking a new approach to climate negotiations, Chief Adviser Prof Muhammad Yunus on Wednesday 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 planet and people. "We need a new economic framework that serves the planet and the people," he said, adding that he backs the UN-sponsored Summit for the Future to create an economic order for the world's young people. Prof Yunus calls for mobilising "intellectual, financial, youth power" for a new civilisation Speaking at a LDC high-level meeting with UN Secretary General Antonio Guterres on the sidelines of the COP29, Prof Yunus said they 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.” Leaders of five major climate-vulnerable least developed countries—Nepal, Malawi, Gambia, Liberia, and Bangladesh—joined the close-door meeting. The Chief Adviser said the 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 a 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 said. 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. A Farmer Can be an Entrepreneur with Access to Credit Earlier on Tuesday evening, Prof Yunus said the countries should redesign the banking system by following the Grameen Bank model to make credit accessible to farmers, a considerable number of whom are women. “Every country should have a social business banking law,” he said, while appreciating that currently at least 110 universities across the globe are teaching social business as a course. Prof Yunus said credit is a human right as it relates to the livelihood of people. “You cannot establish the right of livelihood without ensuring the right to credit,” said the Chief Adviser while speaking to a side event at the COP29 in Azerbaijan capital Baku. Bangladesh and the Netherlands jointly hosted the event titled A Global Conversation: Access to Finance for Small Scale Farmers at the Bangladesh Pavilion of the conference. Additional Foreign Secretary Riaz Hamidullah moderated the event, which was also attended by Dutch Prince Jaime Bernardo of Bourbon-Parma, also the climate envoy of the Netherlands. The Dutch prince highlighted how credit, insurance, investment, research, and finance increased agricultural output while insisting that millions of farmers across the globe now needed this support. Speaking at the event, Yvonne Pinto, the Director General of the International Rice Research Institute, said that rice production grew globally ever since credit was made accessible to farmers. Jorim Schraven, a director of the Dutch entrepreneurial development bank FMO, hailed Prof Yunus for the moral support he extended on debt rights, adding it was related to people’s rights to know. Farhana Haque Rahman, Senior Vice President of Inter Press Service and Executive Director IPS Noram, said that currently, 550 million small household farmers feed two billion people around the world. Dr Yunus said a farmer can be an entrepreneur if he or she is given access to credit. “Every business needs money and investment,” he said, adding that a farmer not only grows crops but also sells them to market. If he was given access to credit, he could buy crops from other farmers and sell them to improve his life, said Professor Yunus, who is hailed globally as a microcredit pioneer.

Chief Adviser Prof Muhammad Yunus on Tuesday said Bangladesh is willing to work with the ‘Climate Club’ to catalyse international cooperation in terms of capacity building, technology transfer and concessional decarbonisation finance. “LDCs will need preferential treatment owing to their special circumstances and development needs,” he said while attending the high-level ‘Climate Club Leader’s Meeting’ jointly hosted by Germany and Chile on the sidelines of COP29, UN's biggest climate conference. COP29: Bangladesh to advocate for action, increased financial commitments The Chief Adviser will deliver a speech at the opening session of the ‘World Leaders Climate Action Summit” at COP29 expectedly between 1:30 pm to 3:00 pm (Bangladesh time) on Wednesday. The ‘Climate Club’ is an open and inclusive high-ambition intergovernmental forum for cooperation on accelerating industry decarbonisation. Responding to a question, Prof Yunus said emissions-intensive production shifts to countries with less stringent climate policies, while potentially undermining global emissions reductions can impact competitiveness, with firms relocating operations to areas with lower environmental costs, leading to job losses in regions with stricter policies. He said carbon leakage can dilute incentives for innovation in low-carbon technologies globally, as some sectors might prioritise cost over sustainable practices. “To mitigate these risks, policies such as carbon border adjustments and international cooperation are essential to balance decarbonisation efforts with economic stability,” Prof Yunus said. Conversely, he said, these policies can affect the competitiveness of the companies of particularly vulnerable developing countries like Bangladesh as strong emission policies will cause higher production costs, making them less competitive globally. “Hence, preferential treatments are required for LDCs owing to their unique circumstances and development needs,” he said. The Chief Adviser said advancing ambitious mitigation policies in a fragmented way is leading to emitting industrial activities moving to regions with less stringent or no carbon pricing policies, which leads to carbon leakage and thus may hamper the global goal of reducing overall global emissions. Carbon Border Adjustment Mechanisms (CBAMs), as proposed by the EU, could incentivise countries to strengthen their climate policies by indirectly applying emissions standards to exported goods and prevent carbon leakage, he observed. Prof Yunus said most vulnerable countries with limited decarbonisation capacity need to have adequate financial and technical support to develop green industries. International collaboration is required to foster economic growth and create new job opportunities in emerging markets, supporting a just and inclusive transition, he said. Responding to another question, Prof Yunus said d⁠Deep, rapid and sustained reduction in GHG emissions and comprehensive international action are required for reducing global GHG emissions by 43% by 2030, reaching net-zero by 2050 to limit warming to 1.5°C. To demonstrate and deploy proven low-emissions technologies, particularly in emerging markets and developing economies, where most industry investments are set to take place to respond to growing demand, including both the public and private sectors, he said. “Many decarbonisation technologies require significant upfront investment. These high capital costs can be a barrier for industries, particularly in most vulnerable developing countries like Bangladesh, with limited access to financing,” said the Chief Adviser. He laid emphasis on developing financial vehicles to finance the industrial decarbonisation fostering access to concessional finance for the private sector industries in the emerging developing economies like Bangladesh. Prof Yunus called for an increased financial commitment for research and innovation.  “This can include national and international research programmes, in collaboration with the private sector and financial support from the developed countries will accelerate innovation and shared learning," said the CA. He highlighted the importance of ensuring international cooperation, capacity building and technology transfer under Article 6.8 of the Paris Agreement. Prof Yunus said international agreements on carbon pricing or border adjustment taxes will create a level playing field by imposing equivalent carbon costs on imports.

The COP29 climate conference commenced in Baku, Azerbaijan, with representatives from over 200 countries, including Bangladesh, seeking critical climate financing commitments from developed nations. The conference, running from November 11-22, is expected to focus on the urgent need for funding to combat the intensifying climate crisis marked by record-breaking heatwaves, floods, cyclones and other extreme weather events. Addressing the conference, UN Climate Chief Simon Stiell urged negotiators to set an ambitious new target for climate finance. COP29: For nearly a decade, climate talks have been hashing out so-called Article 6, but what is it? He emphasised that climate finance is not an act of charity but a global necessity, affecting everyone worldwide. “Let’s dispense with any idea that climate finance is charity,” Mr. Stiell said, noting that runaway climate change impacts “every single individual in the world one way or another.” The Baku summit has drawn heads of state and government officials from over 100 countries, gathering to discuss how wealthier nations can support vulnerable countries in reducing carbon emissions, shifting from fossil fuels to clean energy, and preparing for the impacts of climate-related disasters. However, leaders of the 13 highest carbon-emitting countries, responsible for over 70% of 2023’s emissions, are notably absent. Bangladesh’s Role and Goals at COP29 Bangladesh is aiming to amplify the voices of climate-vulnerable nations, calling for stronger financial commitments and technology transfers to support adaptation and mitigation efforts. Led by Nobel Laureate Prof Dr Muhammad Yunus, Chief Adviser to the interim government, the Bangladeshi delegation arrived in Baku ahead of the conference. Dr Yunus, who is attending from November 11-14, has taken on an active role in advocating for Bangladesh’s climate needs. This marks his second international engagement since assuming his position, following his participation at the 79th UN General Assembly in New York. According to Bangladesh’s Ministry of Environment, Forest and Climate Change, Dr Yunus will push for increased support for climate adaptation, citing Bangladesh’s heightened vulnerability to climate impacts. Bangladesh, which witnessed significant climate events this year, including severe heatwaves followed by devastating floods, will be calling for global financing through mechanisms such as the Loss and Damage Fund and the Green Climate Fund, established under the Paris Agreement, as well as aid for climate refugees. Dr Farhina Ahmed, Secretary of the Ministry of Environment, outlined Bangladesh’s climate challenges, particularly severe floods in the southeastern regions and frequent cyclones. “With escalating climate-related costs, the need for effective financing solutions is now more pressing than ever,” she said. Bangladesh will appeal to wealthier countries to uphold their pledges to assist developing nations in transitioning to green technologies and achieving their climate goals. This year’s conference, according to Dr Ahmed, is pivotal for establishing meaningful, actionable financing targets. Rising Need for Climate Funding Developing nations have identified a need for $500 billion to $1 trillion annually in international funding to confront the intensifying climate crisis—five times more than the current commitments from developed countries. Wealthy nations have previously pledged to provide $100 billion annually since 2020, but that target remains unmet, a point of concern among climate-vulnerable nations. With the ongoing rise in global temperatures, scientists predict that 2024 may become the hottest year on record, with temperatures surpassing pre-industrial levels by over 1.5 degrees Celsius— a threshold likely to trigger severe consequences for vulnerable regions worldwide. The United Nations hopes to finalise a New Collective Quantified Goal (NCQG) for climate finance this year, with many nations looking to COP29 to deliver a concrete framework for the financing needs of developing countries. International Push for Fossil Fuel Phase-Out COP29 also marks one year since the landmark COP28 decision in Dubai, where countries agreed to gradually phase out fossil fuels. However, environmental advocates have criticised the slow progress on this commitment and are expected to push for faster action at this year’s conference. While the shift away from fossil fuels is recognised as essential, implementation challenges remain, particularly in balancing economic and environmental priorities. With the Baku conference being dubbed the "Financing COP," there are high expectations that world leaders will place financial commitments at the forefront, paving the way for substantive climate action. The international community is closely watching to see if developed nations will rise to the occasion, setting critical funding goals essential to preventing future climate disasters. ADB’s Increased Climate Finance Commitments Amid the rising urgency, the Asian Development Bank (ADB) has pledged to boost its climate-related lending by up to $7.2 billion. This increase is supported by sovereign guarantees from the United States and Japan, marking the first instance of sovereign guarantees for climate finance. The new approach could set a precedent for other development banks, as COP29 focuses on expanding the funds available to developing nations. The ADB has established a cumulative climate finance target of $100 billion for the period from 2019 to 2030, having provided $9.8 billion in 2023. US Election Impact on COP29 The recent US election victory of Donald Trump, who has pledged to exit the Paris Agreement on climate, has added pressure to the Baku talks. With Trump’s win raising concerns about U.S. support, negotiators have called on Europe and China to take stronger leadership roles in ensuring a successful outcome at COP29. As COP29 unfolds, the global community awaits key decisions from Baku, hopeful that developed nations will meet their commitments and deliver meaningful financial solutions that can effectively support the world’s most climate-affected countries.

Ahmed Eltayeb, the Grand Imam of the Al-Azhar Al Sharif, on Tuesday said Bangladesh would prosper and grow under the leadership of the country's Chief Adviser Professor Muhammad Yunus. The head of one of the most respected Islamic religious institutions also invited Professor Yunus to deliver a speech at the millennium-old institution, saying the Al-Azhar University would announce new fully funded scholarships for Bangladeshi students. Erdoğan invites Prof Yunus to visit Turkey, assures full support to build a prosperous Bangladesh The Al-Azhar Grand Imam made the comments when he called on Professor Muhammad Yunus at the Ritz Carlton Hotel in the Azerbaijan capital Baku on Tuesday. "We are optimistic about the future of Bangladesh under your leadership. You are a man of wisdom," Eltayeb said, adding the country would reach a new height after the revolution. "I salute you for adopting a wiser approach," he said. Professor Yunus thanked the Grand Imam for the invitation. He also invited the Grand Imam to visit Bangladesh and to see for himself the profound changes brought in by the student-led mass uprising. During the meeting, the Chief Adviser spoke about the mass uprising and the reform initiatives undertaken by the Interim Government. The Grand Imam hoped that Bangladesh would carry out the reforms. He praised Professor Yunus's leadership, his social services, Grameen Bank's pioneering role as a microlender, and his lifelong efforts to combat poverty. Professor Yunus expressed his gratitude to Al-Azhar, saying that way back in the early 1980s when he launched the Grameen Bank, the top Sunni Islamic institution decreed that the microlender's interest system was not in conflict with Islamic teachings. The Chief Adviser handed a copy of the Art of Triumph, the celebrated art book on the wall murals and graffiti painted during the revolution, to the Grand Imam. The Grand Imam appreciated the artistic skills of Bangladesh students. He also praised the Bangladeshi students who are now studying at Al-Azhar University.

Chief Adviser Prof Muhammad Yunus is expected to join the COP29 Summit at the Azerbaijan capital in November, where at least 32,000 people will get together to mainly discuss the thorny issue of climate finance. Once finalised, the Chief Adviser is likely to be in Baku in the second week of November, a senior foreign ministry official told UNB. Chief Adviser visits DU campus to see graffiti drawn by youths The 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will take place in Baku, Azerbaijan from November 11 to 22. The COP29 is seen as a pivotal opportunity to accelerate action to tackle the climate crisis. With global temperatures hitting record highs, and extreme weather events affecting people around the globe, COP29 will bring together leaders from governments, businesses and civil societies to advance concrete solutions. Chief Adviser seeks enhanced trade, economic cooperation with Bhutan A key focus of COP29 will be on finance, as trillions of dollars are required for countries to drastically reduce greenhouse gas emissions and protect lives and livelihoods from the worsening impacts of climate change, according to the United Nations. The conference will also be a key moment for countries to present their updated national climate action plans under the Paris agreement, which are due by early 2025. If done right, these plans will limit global warming to 1.5°C above pre-industrial levels and double as investment plans advancing the Sustainable Development Goals. Meanwhile, non-resident ambassador of Azerbaijan to Bangladesh Elchin Huseynli on Tuesday called on Chief Adviser Prof Yunus at the state guest house Jamuna in Dhaka. The upcoming COP29 Summit in Baku, energy, trade, business cooperation, and a planned air services agreement between the two countries were discussed during the meeting. Ambassador Huseynli stressed deeper trade ties between two countries, with Baku seeking "new opportunities" and ways for opening up doors for more businesses. He said a foreign office consultation between two countries was held in Baku in June. Azerbaijan has sought to sign an air services agreement with Bangladesh, he added.The Chief Adviser called Azerbaijan "a good friend" and sought increased business and trade between the two nations, according to his press wing. Chief Adviser Prof Yunus recalled his long relationships with the Azerbaijani people, its leadership, and universities.