The UN leader has thwarted the new funding for fossil fuels

In a video statement to the Austrian World Summit in Vienna, Antonio Guterres gave a simple assessment of the planet’s predictions. “Most national climate commitments are not good enough,” he said.

Michael M. Santiago | Getty Images News | Getty Images

The UN Secretary-General has thwarted new funding for fossil fuel exploration, calling it a “delusion” and called for the suspension of fossil fuel funding.

In a video statement at the World Summit in Austria in Vienna, Antonio Guterres gave a simple assessment of the planet’s predictions.

“The energy crisis exacerbated by the Ukraine war has seen major economies see dangerous doubling of fossil fuels,” he said on Tuesday.

“The war has strengthened a tremendous lesson: our energy mix is ​​broken,” Guterres said. “If we had invested heavily in renewable energy in the past, we would not be so significantly dependent on the instability of fossil fuel markets now.”

Concerns over energy transition and energy security have been exacerbated by Russia’s invasion of Ukraine, as oil and gas prices continue to rise in recent months.

Russia is a major supplier of both, and some major economies have made plans to reduce their confidence in hydrocarbons in recent months. This desire to move away from Russian imports has led to difficult situations.

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In May, the European Commission set out the details of a plan to increase the EU’s renewable energy capacity and reduce confidence in Russia’s fossil fuels. At the same time, he acknowledged that the existing coal plant would have to be used “for longer than initially expected”.

Coal has a significant impact on the environment and the U.S. Energy Information Administration lists a range of combustion emissions. These include carbon dioxide, sulfur dioxide, particulate matter, and nitrogen oxides.

Elsewhere, Greenpeace says coal is “the dirtiest, most polluting way to produce energy.”

Speaking at the Vienna summit, UN President Guterres emphasized the “disastrous prices” currently facing companies and households. “Our world is facing climate chaos,” he added.

“New funding for fossil fuel exploration and production infrastructure is delusional,” he said. “It will further fuel the scourge of war, pollution and climate disaster.”

The former Portuguese prime minister has called on “all financial actors to abandon the financing of fossil fuels” and to invest in renewables.

“The only real way to achieve energy security, a stable energy price, prosperity and a viable planet is to abandon fossil fuel pollutants – especially coal – and accelerate the energy transition based on renewables,” he said.

Renewable energy sources, Guterres argued, were a “21-year peace plan.”st “A strategy that will drive the transition to renewable energy,” he said.

Among other things, investment in renewables tripled, moving energy subsidies from fossil fuels to renewables and accelerating approvals for wind and solar projects.

‘Not good enough’

About the future of the planet, Guterres held an urgent meeting.

“The window to prevent the worst effects of the climate crisis is closing quickly,” he said. “Our planet has already warmed by 1.2 degrees.”

“To achieve the 1.5-degree target,” he said, “we need to reduce emissions by 45% by 2030 and reach zero net emissions by the middle of the century. But current national commitments will lead to an increase of almost 14% this decade.”

Guterres’s reference to 1.5 degrees Celsius corresponds to the goal of the Paris Agreement to limit global warming “2 well below, better 1.5 degrees Celsius, compared to pre-industrial levels.”

Referring to a recent report by the International Energy Agency, he also noted that global energy-related CO2 emissions will increase by 6% in 2021. “Most national climate commitments are not good enough.”

Guterres’ comments indicate his recent involvement in the debate on climate change and the future of the energy sector.

In March, he said the planet had come out of last year’s COP26 Glasgow climate summit with “a kind of naive optimism” and was “ready for a climate catastrophe”.

In the same speech, he also said that coal is a “stupid investment”, earning billions in damaged assets.

The UN leader has thwarted the new funding for fossil fuels

Source link The UN leader has thwarted the new funding for fossil fuels

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