COP29: Guterres seeks 30% reduction in fossil fuel production by 2030

November 12, 2024 10:34 am

Antonio Guterres, United Nations secretary general | (Photo: UN Climate Change - Kiara Worth)

Antonio Guterres, United Nations secretary general, says world leaders must deliver on their commitments to transition from fossil fuels.

Guterres spoke on Tuesday during the opening ceremony of the COP29 World Leaders’ Climate Action Summit in Baku, Azerbaijan.

At the COP28 climate summit in Dubai, countries agreed to make the shift from fossil fuels without completely “phasing them out”.

Guterres reminded world leaders of that commitment, noting that the most vulnerable countries should not be left to tackle climate extremes.

The UN chief said the “clean energy revolution is here”, adding that governments must ensure that transition is fair and fast enough to limit global temperature rise to 1.5 degrees Celsius.

He said the new nationally determined contributions (NDCs) due February 2025 must include plans to slash global fossil fuel production and consumption by 30 percent in 2030.

“The sound you hear is the ticking clock. We are in the final countdown to limit global temperature rise to 1.5 degrees Celsius. And time is not on our side,” he said.

“The rich cause the problem, the poor pay the highest price. Oxfam finds the richest billionaires emit more carbon in an hour and a half than the average person does in a lifetime.

“Unless emissions plummet and adaptation soars, every economy will face far greater fury.

“At COP28, all of you agreed to move away from fossil fuels; to accelerate net zero energy systems, setting milestones to get there; to boost climate adaptation and to align the next round of economy-wide national climate plans with the 1.5 degrees limit. It’s time to deliver.

“Last year — for the first time — the amount invested in grids and renewables overtook the amount spent on fossil fuels. Almost everywhere, solar and wind are the cheapest source of new electricity. Doubling down on fossil fuels is absurd.

“I urge you to focus on first, emergency emissions reductions. We must cut global emissions nine percent every year. By 2030, they must fall 43 percent on 2019 levels.

“At this COP, you must agree to rules for fair, effective carbon markets that support that fight. By next COP, you must deliver new national climate action plans.

“They must cover all emissions and the whole economy; advance global goals to triple renewables capacity, double energy efficiency, halt deforestation by 2030, and align energy transition and sustainable development priorities with climate action to attract needed investments.”

‘G20 MUST LEAD THE WAY’

Guterres noted that countries that make up the G20 are the largest emitters and should accept the responsibility of leading the way in cleaning up the planet.

The UN chief said finance promises must be kept and developed countries must double adaptation finance to at least $40 billion per year by 2025.

He said COP29 must “tear down the walls” to climate finance and polluters must pay.

“They must bring their technological know-how together — with developed countries supporting emerging economies. Every nation must have the tools and resources for climate action. And the UN will support that effort every step of the way,” he added.

“But ultimately, only you can deliver on national ambition and action. Only you can beat the clock on 1.5 degrees. The gap between adaptation needs and finance could reach up to $359 billion a year by 2030.

“We need countries’ new climate action plans to set out adaptation financing needs. We need every person on earth to be protected by an alert system by 2027.

“We need climate justice, particularly a surge in pledges to the new Loss and Damage Fund, and commitments turning into cash.

“Developing countries must not leave Baku empty-handed. A deal is a must. We need a new finance goal that meets the moment.

“Climate finance is not charity, it’s an investment. Climate action is not optional, it’s imperative. Both are indispensable to a liveable world for all humanity.”