G-20 leaders can stop climate breakdown by stepping up response, UN chief says
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UN Secretary-General Antonio Guterres asked the G-20 to commit to keeping the "1.5 degree goal alive", referring to the 2015 Paris Agreement goal.
PHOTO: REUTERS
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NEW DELHI - UN Secretary-General Antonio Guterres said Group of 20 (G-20) leaders have the power to reset a climate crisis that is "spinning out of control", and urged them to reshape global financial rules which he described as outdated and unfair.
"The climate crisis is worsening dramatically – but the collective response is lacking in ambition, credibility, and urgency," Mr Guterres said in a speech on Friday in the Indian capital New Delhi, which is chairing the G-20 this weekend.
Mr Guterres asked the G-20 to commit to keeping the "1.5-degree goal alive" – referring to the 2015 Paris Agreement goal
"I have put forward a Climate Solidarity Pact – in which big emitters make extra efforts to cut emissions; and wealthier countries support emerging economies to achieve this," he said.
The plan urges developed countries to reach net zero as close as possible to 2040, and emerging economies as close as possible to 2050, proposing a phase-out of coal by 2030 in Organisation for Economic Cooperation and Development countries and 2040 in all others.
"The climate crisis is spiralling out of control. But G-20 countries are in control," Mr Guterres said.
"Together, G-20 countries are responsible for 80 per cent of global emissions. Half-measures will not prevent full climate breakdown."
The United Nations chief also called on G-20 leaders to ensure a stimulus of at least US$500 billion (S$683 billion) per year towards meeting the Sustainable Development Goals.
An effective debt workout mechanism is needed to support payment suspensions, longer lending terms and lower rates on fairer terms for poorer countries, he said.
Calling the global financial architecture "outdated, dysfunctional and unfair", Mr Guterres said it needed deep, structural reform. "And the same can be said of the United Nations Security Council." REUTERS
