UNITED NATIONS, Jun 15 : UN Secretary-General Antonio Guterres Thursday called on countries to phase out coal and other fossil fuels to avert climate \u201ccatastrophe\u201d, saying the world\u2019s response to deal with the impending disaster was \u201cinadequate\u201d.<\/p>\n
\u201cWe are hurtling towards disaster, eyes wide open\u201d, he said. \u201cIt\u2019s time to wake up and step up.\u201d<\/p>\n
The UN chief was addressing a press conference at UN Headquarters in New York following a meeting with civil society climate leaders from across the world. He spoke as the latest manifestation of climate change \u2014 Cyclone Biparjoy \u2014 was about to strike coastal areas of Pakistan ad India.<\/p>\n
He said limiting global temperature rise to 1.5 degrees Celsius is still possible but will require a 45 per cent reduction in carbon emissions by 2030.<\/p>\n
However, current policies will lead to a 2.8\u00b0C temperature rise by the end of the century, which \u201cspells catastrophe\u201d.<\/p>\n
He called for immediate global action toward net-zero emissions, which \u201cmust start with the polluted heart of the climate crisis: the fossil fuel industry.\u201d<\/p>\n
Countries must progressively phase out fossil fuels, \u201cmoving to leave oil, coal and gas in the ground where they belong\u201d, and massively boost investment in renewable energy, he said.<\/p>\n
The UN chief has previously proposed establishing a Climate Solidarity Pact under which rich nations would support emerging economies by cutting emissions.<\/p>\n
Another proposal for an Acceleration Agenda calls on governments to phase out coal by 2040, end public and private international coal funding, and shift subsidies from fossil fuels to renewables, among other measures.<\/p>\n
\u201cBut the fossil fuel industry and its enablers have a special responsibility,\u201d he said, noting the record \u201c$4 trillion windfall\u201d in income last year.<\/p>\n
\u201cYet for every dollar it spends on oil and gas drilling and exploration, only four cents went to clean energy and carbon capture combined. Trading the future for thirty pieces of silver is immoral,\u201d he said.<\/p>\n
Guterres stressed that the fossil fuel industry should apply its massive resources \u201cto drive, not obstruct\u201d the global transition to renewable energy.<\/p>\n
The industry currently \u201cis not even reaching the very low operational emissions reductions targets it has set for itself,\u201d he said.<\/p>\n
He called for fossil fuel companies to present credible, comprehensive and detailed new transition plans that include reducing emissions \u201cup and down the value chain\u201d \u2013 from production through to refining, distribution and use.<\/p>\n
Plans must also establish clear, near-term targets towards the transition to \u2018green\u2019 energy.<\/p>\n
\u201cFossil fuel companies must also cease and desist influence peddling and legal threats designed to kneecap progress. I am thinking particularly of recent attempts to subvert net zero alliances, invoking anti-trust legislation,\u201d he said.<\/p>\n
\u201cGovernments are pivotal in setting the record straight. They must help by providing clear reassurance. Collective climate action does not violate anti-trust \u2013 it upholds the public trust,\u201d he added.<\/p>\n
The UN chief also called for detailed plans from financial institutions, saying they must encourage the global energy transformation.<\/p>\n
Plans should include an explicit strategy to progressively strip out fossil fuel assets from their portfolios to ensure alignment with the net-zero goal. All lobbying and policy engagement also should be disclosed.<\/p>\n
\u201cFinancial institutions everywhere must end lending, underwriting, and investments in coal anywhere \u2013 including new coal infrastructure, power plants, and mines,\u201d he said.<\/p>\n
\u201cAnd they must commit to ending financing and investment in exploration for new oil and gas fields, and expansion of oil and gas reserves \u2013 investing instead in the just transition in the developing world.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
UNITED NATIONS, Jun 15 : UN Secretary-General Antonio Guterres Thursday called on countries to phase out coal and other fossil fuels to avert climate \u201ccatastrophe\u201d, saying the world\u2019s response to deal with the impending disaster was \u201cinadequate\u201d. \u201cWe are hurtling towards disaster, eyes wide open\u201d, he said. \u201cIt\u2019s time to wake up and step up.\u201d […]<\/p>\n","protected":false},"author":2,"featured_media":318066,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3218],"class_list":{"0":"post-338069","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world","8":"tag-antonio-guterres"},"yoast_head":"\n