UNSG warns ‘Global addiction to fossil fuels’ must end, ‘renewables’ only path
Anjali Sharma
GG News Bureau
UNITED NATIONS, 20th Sept. UN head António Guterres on Sunday told the Global Compact Board meeting that to achieve a just and equitable energy transition is “one of the biggest challenges facing our world,”
He said that climate disasters and skyrocketing fuel prices have made the need to “end our global addiction to fossil fuels” crystal clear.
Guterres underscored the importance of investing in renewables, building resilience, and scaling up adaptation.
“Had we invested massively in renewable energy in the past, we would not be in the middle of a climate emergency now”.
He cited a raft of global challenges – from climate change and geopolitical division to deepening inequalities and conflict.
Guterres called to strengthened international solidarity to address them.
“My objective is to make it clear that we need cooperation, we need dialogue, and the present terrible geopolitical divides are not allowing it to happen. We need to change course,” Mr. Guterres said.
Secretary General was on a solidarity visit to flood hit Pakistan, where he called for fast and serious to not only end what he called “climate carnage” but to provide more support for the countries that are the most-impacted but have done very little to cause the phenomenon.”
He also said that renewables are “the only credible path” to real energy security, stable power prices and sustainable employment opportunities.
SG stressed that the share of renewables in global electricity generation must increase from nearly 30 per cent today to over 60 per cent in 2030 and 90 per cent in 2050.
He underscored “Leaders in business as well as government must stop thinking about renewables as a distant project of the future”.
“Without renewables, there can be no future”.
He outlined Five-Point Energy Plan to shift to renewables, starting with treating the technologies as freely available “global public goods”.
“Identifying patents that can be made freely available those relating to battery and storage capacity are crucial for a rapid and fair energy transition,” he said.
He highlighted the need to secure, increase and diversify supply chains for renewable energy technologies, pointing out that supply chains for components and raw materials are “still concentrated in a handful of countries”.
Third, was to level the playing field for renewable, he stated.
“We have the technology, capacity, and funds,” Guterres said, “but we urgently need to put policies and frameworks in place to incentivize investments and eliminate bottlenecks caused by red tape, permits and grid connections”.
Fourth point, shift subsidies from fossil fuels to renewable energy as he noted that each year, governments spend around half a trillion dollars to artificially lower the price of fossil fuels – “more than triple what renewables receive”.
He argued “If we channel these resources and subsidies to renewables, we not only cut emissions; we also create more decent and green jobs,”.
Guterres’ fifth and final point focused on the importance of tripling public and private investments in renewables to at least $4 trillion dollars a year.
“Upfront costs for solar and wind power account for 80 per cent of lifetime costs – meaning big investments today will reap even bigger rewards tomorrow,” he said.
He reiterated that financing to flow to those who need it most; adjusted risk frameworks and more flexibility to scale up renewable finance; and lowering financing costs for developing countries.
Guterres stressed that “The cost of capital for renewable energy projects in the developing world can be seven times higher than in the developed world.”
He noted that Africa attracts a mere two per cent of clean energy investments despite its vast renewable energy potential.
Guterres emphasized that a just transition to a renewable energy future is everybody’s business, including the private sector to advance science-based targets and Just Transition plans, in partnership with labour organizations and civil society.
He underscored “Lip service won’t do. We need credible actions and accountability.”
Guterres added that every business and investor; every city and country must “walk the talk” on their net-zero promises to realize the Paris Agreement and rescue the Sustainable Development Goals.
“The UN Global Compact is poised to help in this vital effort,” he said.
He urged everyone to accelerate action across industries and regions “to jumpstart the renewables revolution”.
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