Countries must phase out coal and other fossil fuels to avert climate 鈥渃atastrophe鈥�, UN Secretary-General Ant贸nio Guterres warned on Thursday in New York.
鈥淲e are hurtling towards disaster, eyes wide open鈥�, he听said.听 鈥淚t鈥檚 time to wake up and step up.鈥澨�
Mr. Guterres was speaking to journalists at UN Headquarters following a meeting with civil society climate leaders from across the world.听
鈥楥atastrophe鈥� looms听
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.听
However, current policies will lead to a听2.8掳C temperature rise by the end of the century, which 鈥渟pells catastrophe鈥�.听
He called for immediate global action听toward net-zero emissions,听which 鈥渕ust start with the听polluted heart of the climate crisis: the fossil fuel industry.鈥澨�
Leave coal in the ground听
Countries must progressively phase out fossil fuels, 鈥渕oving to leave oil, coal and gas in the ground where they belong鈥�, and massively boost investment in renewable energy, he said.
The UN chief听has previously听proposed听establishing aunder which rich nations would support emerging economies听with cutting emissions.听听
Another proposal for听an听Acceleration Agenda calls on governments to听phase out coal by 2040, end听public and private international coal funding, and shift subsidies from fossil fuels to renewables, among other measures.听听
听鈥楢 special responsibility鈥櫶�
鈥淏ut the fossil fuel industry and its enablers have a special responsibility,鈥� he said, noting听the record 鈥�$4 trillion windfall鈥� in income last year.听
鈥淵et for every dollar it spends on oil and gas drilling and exploration, only听four cents went to clean energy and carbon capture听combined.听Trading the future for 30 pieces of silver is immoral,鈥� he said.听
Lead the transition听
Mr. Guterres stressed that听the听fossil fuel听industry should apply its massive resources听鈥渢o drive, not obstruct鈥� the global transition to renewable energy.听听听
The industry currently听鈥渋s听not even reaching the very low operational emissions reductions targets it has set for itself,鈥� he said.听
He called for fossil fuel companies听to听present credible,听comprehensive and detailed new transition plans听that include reducing听emissions 鈥渦p and down the value chain鈥� 鈥� from production through to refining,听distribution and use.听
Plans must also听establish clear, near-term targets听towards the transition to 'green' energy.
Don鈥檛 鈥榢nee-cap鈥� progress听
鈥淔ossil fuel companies must also听cease and desist influence peddling听and legal threats designed to kneecap progress.听 I am thinking particularly of recent attempts to subvert net zero alliances, invoking anti-trust legislation,鈥� he said.听
鈥淕overnments are pivotal in setting the record straight.听 They must help by听providing clear reassurance.听Collective climate action does not violate anti-trust 鈥� it upholds the public trust,鈥� he added.听听
The UN chief also called for听detailed plans from financial institutions, saying they must encourage听the global energy transformation.听
Plans should include an听explicit strategy to progressively strip out fossil fuel assets听from their portfolios to ensure听alignment with the net-zero goal. All lobbying and policy engagement also should be听disclosed.听
鈥淔inancial institutions everywhere must end lending, underwriting, and investments in coal anywhere听-听including new coal infrastructure, power plants, and mines,鈥� he said.
鈥淎nd they must commit to end financing and investment in exploration for new oil and gas fields, and expansion of oil and gas reserves 鈥撎齣nvesting instead in the just transition in the developing world.鈥� 听
