Calling for a complete redesign of the global healthcare system and pharmaceutical companies, Chief Adviser Professor Muhammad Yunus on Wednesday said the pharmaceutical companies should not be proft-driven.
Speaking at a side event on health services during the COP29 climate conference in Baku, Azerbaijan, the 2006 Nobel Peace Laureate emphasised the need for a pro-people healthcare system and urged the transformation of pharmaceutical companies into social businesses.
"I raised the question: Should pharmaceutical companies be profit-driven? No, not in this day and age. They should be social businesses. Businesses that solve problems, and healthcare is a significant one. All pharmaceutical companies should operate as social businesses—companies that focus on solving problems, not making money," said Yunus.
He also cited the worldwide campaign for patent –free vaccine during the Covid-19 pandemic.
Earlier in the day, speaking on climate change, Yunus advocated for a new, sustainable lifestyle to protect the environment. He emphasized that this lifestyle should not be imposed but adopted as a personal choice, particularly by young people.
Yunus proposed that every young person develop a "three-zero" mindset: zero net carbon emissions, zero asset profits (earned only through social businesses), and zero unemployment, achieved by becoming an entrepreneur. He believes this shift will pave the way for a new civilization.
In his address to the conference president, Yunus also shared his vision of tackling climate change from a fresh perspective: "I ask for permission to present the climate disaster from a slightly different viewpoint, one that could lead us to prevent more destruction rather than just combat it. It’s a big goal that raises big questions."