António Guterres, UN secretary-general, has called for global action to curb deforestation and dramatically expand renewable energy efforts by 2030
Guterres spoke at the COP29 world leaders’ Climate Action Summit in Baku, Azerbaijan. According to him, “The sound you hear is the ticking clock. We are in the final countdown to limit global temperature rise to 1.5 degrees Celsius.
“At this COP, you must agree to rules for fair, effective carbon markets that support this fight. By the next COP, you must deliver new national climate action plans.
“We must address all emissions across the entire economy, work towards global goals to triple renewable energy capacity, double energy efficiency, end deforestation by 2030, and harmonise energy transition and sustainable development priorities with climate action to attract essential investments.
He also highlighted the imbalance between the responsibilities and impacts faced by the rich compared to those of the poor.
He cited a report by Oxfam which found that the world’s wealthiest billionaires emit more carbon in 90 minutes than the average person does in a lifetime.
Read also: UN chief pins global emissions on G20 countries
The secretary-general criticised ongoing investment in fossil fuels, labelling them as “absurd,” especially as solar and wind energy have become the cheapest sources of new electricity in many regions.
Guterres outlined a comprehensive plan for nations to follow at the COP29 summit. He called for immediate reductions in emissions, aiming for a nine per cent annual decrease.
He stated that by 2030, global emissions must be reduced by 43 percent compared to 2019 levels.
“To keep global temperature rise within 1.5 degrees Celsius, we need to cut emissions by nine percent each year—reaching a total reduction of 43 percent by 2030. However, emissions are still increasing at this time,” the UN chief noted.
He urged leaders to agree on fair and effective carbon market rules, which are crucial for the next phase of climate action.
The UN chief also pointed to the responsibility of G20 countries, the largest emitters of greenhouse gases, to lead the global clean-up efforts. He called on these nations to set the pace in adopting net-zero energy systems and scaling up climate adaptation initiatives.
Guterres emphasised the need for honouring financial commitments, calling on developed nations to double adaptation funding to a minimum of $40 billion annually by 2025.
“Climate finance isn’t charity; it’s an investment,” he stated, underscoring that decisive climate action is essential for a liveable future.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
