Adopting circular economy model to combat climate change
Md Mojahidul Islam :
The International Chamber of Commerce-Bangladesh (ICCB) has said adopting a circular economy model is both a necessity and an opportunity, stressing that Bangladesh is highly vulnerable to climate change and is considered one of the most climate-vulnerable countries in the world.
As a rapidly developing nation, Bangladesh faces significant environmental challenges, including waste management issues, pollution, and resource depletion, said the ICCB.
The transition to a circular economy could provide solutions to these problems while unlocking new avenues for economic growth, according to the editorial of the current news bulletin of the ICCB released on Wednesday.
Asia was the world’s most disaster-hit region from climate and weather hazards in 2023 with floods and storms the chief cause of casualties and economic losses.
The latest World Meteorological Organization report said the impact of heat waves in Asia was becoming more severe, with melting glaciers threatening the region’s future water security.
To fight against climate hazards, the just concluded COP29 in Baku has adopted to raise at least $300 billion core goal per year by 2035, with developed countries taking the lead, in the context of the broader mobilisation of $1.3 trillion per year from all actors to support climate action in developing countries.
In order to fight against plastic pollution, the 5th Session of the Intergovernmental Negotiating Committee (INC-5), concluded in Busan, Republic of Korea on 1 December 2024 could not decide on development of an “international legally binding instrument (ILBI) on plastic pollution, including in the marine environment”.
Delegates from 179 Member States concluded that time had run out to resolve all outstanding issues and that a resumed session of the Committee was necessary to afford additional time for further negotiations to develop a legally binding instrument to address plastic pollution.
In an era where environmental degradation and resource scarcity dominate global conversations, the circular economy emerges as a beacon of hope. Unlike the traditional linear economy-defined by a “take-make-dispose” model-the circular economy emphasizes sustainability, efficiency, and resourcefulness.