The UN Secretary-General, António Guterres, has reprimanded private sector entities funding coal and considers these are “stupid investments”.
Mr. Guterres, in a tweet, said that private sector entities still funding coal projects must be held accountable.
The first report by the IPCC Working Group 1 indicated that human activities have caused climate change.
Those in the private sector still financing coal must be held to account.
Their support for coal could not only cost the world its climate goals.
It’s a stupid investment – leading to billions in stranded assets.
— António Guterres (@antonioguterres) March 22, 2022
According to the IPCC, without a reduction in carbon emissions, the world heads into self-destruction with an increase in global temperature.
Currently, the UN and various governments have agreed to limit emissions to 1.5 global temperature.
He further added that “we are sleepwalking to climate catastrophe. Our planet has already warmed by as much as 1.2 degrees – and we see the devastating consequences everywhere. We need a 45% reduction in global emissions by 2030 and carbon neutrality by mid-century to keep our climate goals alive.”
Addiction to fossil fuels is mutually assured destruction.
We need to fix the broken global energy mix.
Instead of hitting the brakes on the decarbonization of the global economy, now is the time to race towards a renewable energy future.
— António Guterres (@antonioguterres) March 21, 2022
Those in the private sector still financing coal must be held to account.
Their support for coal could not only cost the world its climate goals.
It’s a stupid investment – leading to billions in stranded assets.
— António Guterres (@antonioguterres) March 22, 2022