The Secretary General of the UN, Antonio Guterresassured this Friday that it is not yet too late to limit global warming and avoid planetary collapse as long as we act now and the phasing out all fossil fuels. In his speech at the leaders’ summit of the Dubai Climate Summit (COP28)in which some 140 leaders from around the worldand after recounting his recent passage through Antarctica and the glaciers of Nepal, he stressed that the melting of ice is one more “symptom” of the disease that affects our climate and “that only you, world leaders, can cure.”

“The Earth’s vital signs are failing: record emissions, ferocious fires, deadly droughts and the hottest year in history. We are miles away from the goals of the Paris Agreement “and on the limit of being able to limit warming to 1.5 degrees, he stated.” But it is not too late and planetary collapse can be avoided. We have the necessary technologies to avoid the worst of climate chaosif we act now,” said Guterres, in a tone of hope unusual in his speeches on climate change. To achieve this, we now need “leadership, cooperation and political will,” according to the United Nations leader, who has stressed that Climate action can also change the injustice that governs the world.

In his opinion, the “diagnosis is clear” and the success of the COP depends on the so-called global stocktake of the Paris Agreement (Global Stocktake) “prescribing a cure in three areas.” He calls on the G20 and oil companies to lead climate action. First of all, drastically reduce emissionsa section in which the G20 (the world’s largest economies that account for 80% of global emissions) must take the initiative, said Guterres, who has urged developed countries to be net zero emissions by 2040 and emerging economies in 2050.

“Secondly, we cannot save a burning planet with a hose of fossil fuels (…) The science is clear, the 1.5 degree limit It is only possible if we stop burning all fossil fuels” progressively and with a clear calendar, as well as tripling renewable capacity and doubling energy efficiency. In this section, he recalled that the Intergovernmental Group of Experts on Climate Change ( IPCC has recommended end coal by 2030 in OECD countries and by 2040 in the rest, to which he added that, according to the International Energy Agency, oil and gas companies only contribute 1% of investment in clean energy.

Guterres to oil company businessmen: “Do not continue betting on an obsolete business model”

Warning to oil companies: their business is ending. “I have a message for the leaders of fossil fuel companies: do not continue betting on an obsolete business model and lead the transition to renewable energy“Well, the path towards climate sustainability “is also the only viable path for the economic sustainability of their companies.” In this context, he has asked governments to help the sector make the right decision “by regulating, legislating, putting a price carbon, ending fossil fuel subsidies and adopting a windfall tax.

Third, parties must commit to increasing financing in mitigation, adaptation and loss and damage and support the reform of multilateral development banks to achieve much more private financing at reasonable costs. “Excellencies, the climate challenge is not just another matter in your (email) inbox. Protecting our climate is the greatest test of leadership in the world. I urge you to lead, the fate of humanity hangs in the balance, do make this COP count”, he concluded.