Photo: AFP file
Bangladesh's interim leader Muhammad Yunus on Wednesday criticized the 'humiliating' debate over financial aid for poorer countries at the COP29 summit, urging wealthier nations to take responsibility for the issues they have created. 'I find it very humiliating for nations to come and ask for money to address a problem that others have caused for them,' the Nobel Peace Prize winner told AFP in an interview during the UN climate talks in Azerbaijan. 'Why should we be forced to negotiate this? You are aware of the problem.'
Countries are aiming to secure a significant increase in funding for climate action at COP29, particularly for developing nations like Bangladesh, which bear the least responsibility for global warming but suffer the most from its consequences. Some advocates are calling for the current annual $100 billion figure to be multiplied tenfold to cover the costs of transitioning away from fossil fuels and adapting to climate-related disasters.
However, wealthy nations, including the United States and the European Union, are hesitant to commit to such substantial sums and are pushing for other countries to contribute, leading to minimal progress at COP29. Yunus, a pioneer in micro-finance who became Bangladesh's interim leader in August following the removal of autocratic leader Sheikh Hasina, described the negotiations at COP29 as degrading. 'This is not a fish market,' he said.
Yunus emphasized that the rich nations, whose economic growth and associated carbon emissions are primarily responsible for current global warming, should determine the necessary financial commitment. 'You should calculate how much is needed, not me,' he stated. 'This is not about bargaining or negotiating; it's about finding a solution.'
Bangladesh is one of the most climate-vulnerable countries, frequently affected by floods and cyclones. In August, floods claimed the lives of at least 40 people and displaced nearly 300,000 residents, who sought refuge in emergency shelters.
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