Guterres warns climate summit of ‘naked greed’ of fossil fuel interests

UN secretary-general António Guterres said at a climate meeting of leaders at the UN General Assembly on Wednesday that time is running out to tackle climate change, thanks partly to the “naked greed” of fossil fuel interests.

With the two-week UN climate summit (COP28) due to start on November 29 in Dubai, United Arab Emirates (UAE), Guterres implored national policymakers to phase out climate-warming fossil fuels.

“The move from fossil fuels to renewables is happening — but we are decades behind,” Guterres said at the start of the one-day meeting. “We must make up time lost to foot-dragging, arm-twisting and the naked greed of entrenched interests raking in billions from fossil fuels.”

Guterres invited representatives of 34 countries to speak on Wednesday in recognition of their action on climate change, including Brazil, Canada, Pakistan, SA and the island nation of Tuvalu.

Those not invited were the world’s two top polluters — the US government and China — though US special envoy on climate change John Kerry was in the audience.

China’s UN mission did not immediately respond to a request for comment.

Kenyan President William Ruto urged countries to create a universal tax on fossil fuel trades, levies on aviation and maritime emissions and financial transactions to raise trillions of dollars. “Neither Africa nor the developing world stands in need of charity” from developed countries, said Ruto.

California governor Gavin Newsom spoke about his state’s leadership on climate policies, including a ban on the sale of new petrol-powered vehicles by 2035. He also called out the oil industry for obstructing climate action.

“This climate crisis is a fossil fuel crisis,” he said, drawing applause from the heads of state and others in the room.

Thai Prime Minister Srettha Thavisin said his country had raised its emission reduction target from 20% to 40% below business-as-usual projections by 2030.

“Climate change is a top priority for my administration,” said Thavisin. His country recently created a climate change ministry.

While the UAE was not among countries Guterres selected to talk about their climate plans, UAE COP28 president Sultan Ahmed al-Jaber was scheduled to speak at the end about the country’s priorities for that two-week summit.

Finance

“Many of the poorest nations have every right to be angry — angry that they are suffering most from a climate crisis they did nothing to create, angry that promised finance has not materialised, and angry that their borrowing costs are sky-high,” Guterres said in his opening remarks.

With only 70 days left before COP28 begins, the head of the vulnerable island of Barbados questioned this week’s focus at UN General Assembly on the war in Ukraine.

“I hope that, in the same way that we can take Ukraine seriously in the Security Council, we can take the climate crisis and the financing for it seriously,” said Barbados Prime Minister Mia Mottley.

“This is as much of a threat — in fact a greater threat — because more lives are at stake globally than are at stake in Ukraine. I have nothing against Ukraine,” she said.

European Commission president Ursula von der Leyen said countries need to meet the long-unmet target of mobilising $100bn a year in climate finance.

“It is a question of trust,” she said. The EU will be sending $27bn as it did last year.

Nepali Prime Minister Pushpa Kamal Dahal, representing the bloc of least developed countries, called for a doubling in finance for adapting to a climate-altered world, as this year is on track to be the warmest ever on record.

The climate summit was also set to hear from several international financial institutions, including the global travel insurer Allianz, multilateral lending agencies including the World Bank and the IMF.

The UN’s Green Climate Fund for disbursing climate finance to developing countries disclosed at the event that it planned to launch a new initiative.

Reuters