Azerbaijan President Ilham Aliyev on Thursday said his country is keen to deepen ties with Bangladesh and take the bilateral relationship to a new height, hoping that Bangladesh will grow and prosper under the leadership of Chief Adviser Prof Muhammad Yunus. "Your task is very challenging. But I know you are the one who can surmount the challenge," President Aliyev said when he met Prof Yunus on the sidelines of the COP29 global climate conference in the Azerbaijan capital Baku. He congratulated Prof Yunus for assuming the leadership of the interim government and said Bangladesh will grow and prosper under his (Prof Yunus) leadership. Prof Yunus is scheduled to return home on Thursday night, an official told UNB. The Azerbaijan President said a high-level team of the Azerbaijan government will visit Bangladesh early next year to sign a comprehensive arrangement deal with Bangladesh. He said his country is keen to invest in Bangladesh and is exploring the possibility of opening an embassy in Dhaka as both nations see increasing opportunities for trade, commerce, and international cooperation. Read: ‘Pay up or humanity will pay the price’, Guterres warns at COP29 climate summit

Chief Adviser Prof Muhammad Yunus on Wednesday highlighted the importance of mobilising intellectual, financial and youth power to lay the foundation for a new civilisation—a self-preserving and self-reinforcing civilisation. "The climate crisis is intensifying. Our civilisation is at grave risk as we continue to promote self-destructive values," he said while speaking at the COP29. President of the Republic of Azerbaijan Ilham Aliyev invited heads of states and governments to participate in the two-day World Leaders Climate Action Summit (WLCAS). The 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29) is taking place from November 11 to 22. Presenting the "climate catastrophe" in a different perspective, Prof Yunus said safety of the environment needs a new lifestyle which would not be imposed but it will be a choice. "Young people love that lifestyle as a choice. Each young person will grow up as a three zero person—zero net carbon emissions, zero wealth concentration, through building social businesses only, and zero unemployment by turning themselves into entrepreneurs," he said. The Nobel Peace Laureate said each person will grow up as a three zero person, and remain a three zero person all his/her life, and that will create the new civilisation. "It can be done. All we need to do is to accept a new lifestyle consistent with the safety of the planet and all who live on it. Today’s generation of youth will do the rest. They love their planet," Prof Yunus said, hoping that others will join him in this dream. "If we dream together, it will happen," he said, sharing his longstanding dream of creating a new world of three zeroes. Stressing that this perspective will take them from fixing climate destruction to stopping further carnage, Prof Yunus said the human inhabitants of this planet are the cause of the destruction of the planet. "We are doing it deliberately. We have chosen a lifestyle which works against the environment. We justify this with an economic framework which is considered as natural as the planetary system," he said. The interim government chief said that the economic framework thrives on limitless consumption. "The more you consume the more you grow. The more you grow, the more money you make," he said, adding that maximisation of profit is treated as the force of gravity which lets everything in the system play its role according to our desire. In order to survive, Prof Yunus said, the world needs to create another culture—a counter-culture which is based on a different lifestyle. "It is based on zero waste. It will limit consumption to essential needs, leaving no residual waste. This lifestyle will also be based on zero carbon. No fossil fuel. Only renewables," he said. Prof Yunus said this will be an economy based primarily on zero personal profit—social business. This business is defined as a non-dividend business addressed to solve social and environmental problems. "A vast part of social businesses will focus on protecting the environment and mankind," he said, adding that human lives will not only be protected but qualitatively enhanced through affordable healthcare and education. It will facilitate entrepreneurship for the youth. "Young people will get prepared through a new education of entrepreneurship. Education for creating” job seekers will be replaced by entrepreneurship-focused education," Prof Yunus said. The invitation to the WLCAS in the Republic of Azerbaijan during COP29 signifies the importance for world leaders to engage and enhance ambition and enable action to reduce emissions, adapt to climate change, and address loss and damage, to implement and transform key climate related decisions into concrete actions and credible plans to tackle climate change, said the organizers. The Summit aims to build consensus and momentum around the COP29 plan to enhance ambition and enable action and demonstrate to all stakeholders a clear political will to deliver. It will address raising ambition for mitigation and adaptation through nationally determined contributions (NDCs), National Adaptation Plans (NAPs), and long-term low-emission development strategies (LT-LEDS), enabling action with the New Collective Quantified Goal on Climate (NCQG), and other means of implementation and support. Prof Yunus joined a closed door Climate Leaders Meeting hosted by Germany and Chile. He also joined a roundtable on "Access to Finance for Small Scale Farmers" to be co-hosted by Bangladesh and the Netherlands. The Chief Adviser arrived in Baku on Monday evening to attend the UN's biggest climate conference, COP29, which is seen as a "pivotal opportunity" to accelerate action to tackle the climate crisis. Bangladesh Ambassador to Turkey Amanul Haq, among others, was present at the airport to receive the Chief Adviser upon his arrival at 5:15pm (Baku time) on Monday. Prof Yunus is leading a small delegation and will return home on November 14, a senior official at the CA's office told UNB. Global leaders and diplomats from across the world are joining the annual climate summit to discuss how to avoid increasing threats from climate change in a place that was one of the birthplaces of the oil industry.

Turkish President Recep Tayyip Erdoğan has invited Prof Muhammad Yunus to visit Turkey and assured Bangladesh of all possible help in its journey to carry out deep reforms and build a prosperous country. Prof Yunus met the Turkish President and the Turkish First Lady at the summit of the world leaders at the COP29 venue on Tuesday. Grand Imam of Al-Azhar invites Prof Yunus to deliver speech at the millennium-old institution Prof Yunus also invited them to visit Bangladesh soon. Chief Adviser Prof Yunus had a busy day at the opening day of the COP29 global climate change summit in the Azerbaijan capital Baku. The Bangladesh interim leader and 2006 Nobel Peace laureate met at least 20 top leaders of countries across the globe and heads of international agencies. The Chief Adviser also met UAE President Sheikh Mohamed bin Zayed Al Nahiyan. He thanked the UAE president for releasing 57 Bangladeshi nationals who were imprisoned for staging protests in solidarity with the students in July. Prof Yunus met and greeted Shehbaz Sharif, the Prime Minister of Pakistan; Mohamed Muizzu, the President of the Maldives; Tshering Tobgay, the Prime Minister of Bhutan; and Ramchandra Paudel, the President of Nepal. Prof Yunus has been calling for the revival of Saarc as a top platform for South Asia's eight countries. Saarc revival will be a key cornerstone of his foreign policy, he earlier said. Among others, he met the Prime Minister of Belgium, President of Ghana, Prime Minister of Bosnia Herzegovina, President of Rwanda, Prime Minister of Albania, President of Montenegro, Prime Minister of Barbados, Vice Presidents of Brazil and Iran, President of FiFA, and Director General of IOM.

Chief Adviser Prof Muhammad Yunus on Tuesday had brief interactions separately with a number of leaders as COP29, UN's biggest climate conference, is underway. Prof Yunus met with Prime Minister Daniel Risch of Liechtenstein and Prime Minister Tshering Tobgay of Bhutan. He also met with President Mohamed Muizzu of the Maldives and President Denis Becriovic of Bosnia and Herzegovina. Read: COP29: “Won’t revert back to the energy system of the 1950s,” says US top climate negotiator

As global leaders gather for the United Nations Framework Convention on Climate Change (UNFCCC) COP29 in Baku, a powerful dialogue on climate change is emerging among young leaders, policymakers and climate advocates. In a significant pre-COP29 roundtable titled ‘Youth as Agents of Change’, young climate activists from Bangladesh joined representatives from the European Union, Sweden and other Team Europe members to share insights, propose concrete actions, and demand urgent progress on climate policies. Bangladesh’s Youth Voice for Climate Action Bangladeshi youth leaders brought a compelling voice to the COP29 preparatory discussion, highlighting the climate challenges their country faces and the actions needed to address them. With Bangladesh among the most climate-vulnerable countries in the world, young leaders focused on key areas, including climate adaptation, financing and transitioning away from fossil fuels. UN climate talks to focus on money to help poor nations cut carbon pollution At the roundtable, youth delegates made several recommendations. These included enhancing nationally determined contributions (NDCs) to set more ambitious emissions targets and devising long-term strategies for sustainable energy. “We want a future where our communities are resilient, where our voices shape national policies, and where our climate adaptation measures are strong enough to withstand the challenges ahead,” said Rina Ahmed, a Bangladeshi youth activist and delegate at the event. Climate Change: An Urgent Crisis “The year 2023 was officially the warmest year on record,” notes climate scientist Dr. Mohammad Rahman, emphasising that rising temperatures due to greenhouse gas emissions have reached critical levels. “Climate change isn’t just warming temperatures; it’s intensifying droughts, increasing floods, causing biodiversity loss, and worsening storms globally. These effects are compounded in countries like Bangladesh,” he adds. Adaptation, Mitigation and Support The roundtable outlined two major avenues for climate action: Climate Adaptation – Preparing communities to face climate impacts. For Bangladesh, this involves building infrastructure like seawalls and developing agricultural practices that withstand extreme weather. Climate Mitigation – Reducing greenhouse gas emissions, including renewable energy adoption, improving energy efficiency, and reducing dependency on fossil fuels. As these young leaders emphasized, a comprehensive approach combining adaptation and mitigation is critical. Echoing this sentiment, Maya Svensson, Swedish climate ambassador, stated, “Our support for climate adaptation must meet the urgency of this moment. International cooperation is essential to secure the future of countries facing severe climate impacts.” Team Europe’s Role A key topic discussed was the European Union’s Carbon Border Adjustment Mechanism (CBAM), expected to take effect in 2026. This initiative will apply carbon pricing to imports from countries with less stringent climate policies, aiming to reduce carbon leakage and encourage global climate action. “CBAM will play a crucial role in holding countries accountable for their emissions and in fostering a level playing field in the global market,” said Margareta Nilsson, European Union climate advisor. Beyond COP29 As the climate conversation continues, organizations are encouraged to pursue both emissions reductions and climate-positive initiatives. For instance, climate-positive efforts aim not only to achieve carbon neutrality but to remove additional CO₂ from the atmosphere. Climate action remains crucial for sustainability leaders, including those in Bangladesh, where youth leaders’ initiatives are mobilizing local communities and inspiring international action. SGS, a global leader in environmental testing and certification, also emphasized the importance of comprehensive services for emission reduction, adaptation, and green energy transition. The company’s services range from GHG emissions consulting to carbon neutrality verification, supporting both private and public sector actors. A Global Movement with Youth at the Helm The COP29 roundtable underscored that youth engagement in climate action is not merely symbolic; it is essential to achieving a resilient and sustainable future. Bangladeshi youth climate leaders, in collaboration with Team Europe, are pushing for actionable strategies and accountability. Their message is clear: the time for transformative action is now. As COP29 unfolds in Baku, it remains evident that today’s youth are not only the most affected by climate change but also the fiercest advocates for change. The global community is listening, and it is this generation’s commitment and drive that may finally turn the tide on climate change  

At the upcoming 29th Conference of Parties (COP29) in Baku, dubbed the “climate finance COP”, representatives of different countries should deliver key decisions to design policies and regulations and offer institutional support that encourages banks to lend more to the renewable energy sector, said a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA). The note analyses global renewable energy investment trends and projected gaps to meet the goal of tripling renewable energy capacity by 2030 from 2023. It finds by reorienting capital from the fossil fuel sector to renewable energy, banks can bridge the International Energy Agency’s projected annual investment gap of US$400 billion from 2024 to 2030. “With only six years remaining, the 2030 goal for renewable energy seems a stretch too far, but enhanced cooperation between developed and developing countries and conducive local policies may bridge the gap,” says the note’s co-author Vibhuti Garg, Director – South Asia, IEEFA. “Negotiators at COP29 in Baku should back their ambition to triple renewable energy up with a consensus on additional climate finance, supported by the developed countries, to fill the gap of catalytic funds in the developing and least-developed countries,” she adds. The note finds that under different estimates, global investment in renewable energy has been growing, highlighting the attractiveness of renewable energy among investors. It rose from the range of US$329 billion - US$424 billion in 2019 to US$570 billion - US$735 billion in 2023, implying a jump of 73% - 78% during this period. However, the average annual investment to attain the goal of tripling renewable energy will require between US$1 trillion and US$1.5 trillion from 2024 through 2030. As such, the average funding gap between 2024 and 2030 will reach US$400 billion per annum. Read: New climate finance goal must empower small-scale farmers: IFAD President “While bank credit flows to the fossil fuel sector is declining, it was still a whopping US$967 billion in 2022. On the flip side, low-carbon development projects, including renewable energy, received US$708 billion in the same year. By reorienting more capital to the renewable energy sector, banks can bridge the projected investment gap,” says the note’s co-author, Shafiqul Alam, Lead Analyst – Bangladesh Energy, IEEFA. The note highlights several ways to encourage banks to change, like prioritising lending for renewable energy, offering banks credit enhancement support, integrating climate change into banks’ policies, interoperability of green taxonomies, making financed emissions disclosures mandatory and monetary policy tools.“Governments can create partial credit risk guarantee instruments to reduce credit risk, encouraging banks to accelerate credit flows to the sector. Multilateral Development Banks (MDBs) and bilateral financial institutions, with support from local governments, can provide risky and concessional capital to local banks and help create partial risk guarantee instruments,” says the note’s co-author Labanya Prakash Jena, Consultant – Sustainable Finance, IEEFA. Read: Govt, UNDP, IIX to launch “Orange Bonds" for inclusive growth and climate action Besides, the central bank can use moral suasion to nudge commercial banks to increase capital flows toward the clean energy sector while moving away from thermal power plants.