At COP29 in Baku, COP29 UN Secretary General António Guterres Speech
Global leaders were reminded of the urgent need to combat climate change as the world faces unprecedented environmental and economic challenges. With 2024 set to become the hottest year on record, UN officials emphasized the devastating consequences of human-made climate change, from extreme weather to rising food and insurance costs.
The summit highlighted critical priorities:
- Emergency Emissions Reductions: Cutting global emissions by 43% by 2030 to stay within the 1.5°C limit, including robust carbon market rules to prevent greenwashing.
- Climate Adaptation: Doubling adaptation finance to $40 billion annually by 2025 to protect vulnerable populations.
- Climate Finance Reform: Increasing concessional finance, leveraging private funds, and holding polluters accountable through levies on shipping, aviation, and fossil fuels.
“Climate finance is not charity; it’s an investment,” Guterres asserted, calling on the G20 to lead by example and urging developed nations to deliver promised resources.
The clean energy transition is already gaining momentum, with investments in renewables surpassing fossil fuels for the first time. Yet, major reforms in multilateral financing systems remain essential to meeting the scale of the crisis.
“The clock is ticking,” Guterres warned, urging nations to act decisively before it’s too late.
