Towards a world using clean energy

*Burning fossil fuels like coal causes climate change.*

Disaster is imminent.

Mr. Guterres stated that limiting global temperature rise to 1.5°C is still achievable but requires a 45% reduction in carbon emissions by 2030. However, current policies would lead to a 2.8°C increase by the end of this century, which he called a “catastrophe”.

He called for immediate global action toward net-zero emissions, which must begin at the heart of the climate crisis: the fossil fuel industry.

According to the UN head, countries must gradually phase out fossil fuels and step up investment in renewable energy.

He previously proposed the creation of a Climate Solidarity Pact, under which wealthy nations would support emerging economies in cutting emissions.

Another proposal is for governments to phase out coal by 2040, ending international and private coal subsidies, and shifting subsidies from fossil fuels to renewable energy.

Mr. Guterres argued that the fossil fuel industry and those who support it bear particular responsibility, a sector that generated a record $4 trillion in revenue last year. However, for every dollar it spends on drilling and oil and gas exploration, only four cents are used to produce clean energy and capture carbon.

Leading the transformation

Mr. Guterres emphasized that the fossil fuel industry should use its vast resources “to promote, not hinder,” the global transition to renewable energy. According to him, the industry is currently not even meeting its own low emissions reduction targets.

UN officials are calling on fossil fuel companies to develop credible, comprehensive, and detailed new transition plans that include emissions reductions – from production to refining, distribution, and use. These plans must also establish clear, short-term targets toward the transition to “green” energy.

At the same time, fossil fuel companies must stop exchanging influence and legal threats.

“Governments play a crucial role in efforts to implement these plans, supporting them by providing clear assurances. Collective climate action does not violate antitrust regulations; it maintains public trust,” Guterres asserted.

The UN leader also called on financial institutions to develop detailed plans and argued that they must encourage the global energy transition. These plans should include a clear strategy for gradually phasing out fossil fuels from their portfolios to ensure alignment with the net zero emissions target.

Mr. Guterres stated: “Financial institutions everywhere must cease lending, underwriting, and investing in coal anywhere – including new coal infrastructure, power plants, and mines. They must also commit to ceasing financing and investing in the exploration of new oil and gas fields and the expansion of existing oil and gas reserves, and instead investing in the equitable transition process that is currently underway worldwide .”

In a related development, the International Energy Agency (IEA) recently stated that renewable energy is growing rapidly and is expected to surpass investment in oil production this year. However, the use of fossil fuels has not yet decreased enough to meet the emissions reduction targets for 2050.

Scientists now agree that countries need to significantly reduce their greenhouse gas emissions to achieve their committed climate goals, with the transition from fossil fuels to clean energy sources being considered the most sustainable approach.

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