UNITED NATIONS, Mar 21 (APP):United Nations Secretary-General Antonio Guterres Monday warned that time was running out to meet the international goal of keeping climate change below 1.5 degrees Celsius, saying that the world was “sleepwalking to climate catastrophe”.

Speaking via video-link at the Economist Sustainability Summit, Guterres said the goal was “on life support” and “in intensive care” due to a combination of issues such as the COVID-19 pandemic, the Russian invasion of Ukraine and a general lack of political will.

“The world returned from [the COP26 climate summit] with a certain naive optimism” about achieving the goal, Guterres told attendees at the Economist Sustainability Summit. “Keeping 1.5 alive requires a 45 percent reduction in global emissions by 2030 and carbon neutrality by mid-century. That problem was not solved in Glasgow.”

“According to present national commitments, global emissions are set to increase by almost 14 percent in the 2020s,” he added. “Last year alone, global energy-related CO2 emissions grew by 6 percent to their highest levels in history. Coal emissions have surged to record highs. We are sleepwalking to climate catastrophe.”

Guterres added that the energy crisis created by Russia’s military offensive against Ukraine and subsequent sanctions against Russian energy illustrated the risks of the status quo.

“As current events make all too clear, our continued reliance on fossil fuels puts the global economy and energy security at the mercy of geopolitical shocks and crises,” Guterres said.

He told attendees that there remained hope to “move the 1.5-degree goal from life support to the recovery room” if certain steps were taken, such as increased use of renewables and decarbonization of major industrial sectors.

The Secretary General’s remarks come the month after a dire assessment by the Intergovernmental Panel on Climate Change warned of the “brief and rapidly closing window” leaders have to prevent catastrophic global warming.

According to current national commitments, however, global emissions are set to increase by almost 14 per cent during the rest of the decade.

Last year alone, global energy-related CO2 emissions grew by six per cent “their highest levels in history,” Guterres said, as coal emissions surged “to record highs”.

With the planet warming by as much as 1.2 degrees, and where climate disasters have forced 30 million to flee their homes, Guterres warned: “We are sleepwalking to climate catastrophe.”

“In our globally connected world, no country and no corporation, can insulate itself from these levels of chaos.
“If we do not want to kiss 1.5 goodbye…we need to go too the source – the G20 (group of leading industrialized nations), the UN chief said.

Noting that developed and emerging G20 economies account for 80 per cent of all global emissions, he drew attention to a high dependence on coal, but underscored that “our planet can’t afford a climate blame game.”

Developed countries must not put the onus on emerging economies to accelerate their transition nor must emerging economies responding by saying, “you exported carbon-intensive heavy industrial activities to us in return for cheaper goods”.
“We can’t point fingers while the planet burns,” the UN chief said.

The Secretary-General pointed to “a cauldron of challenges”, such as “scandalously uneven” COVID recovery, record inflation, and the fallout from Russia’s war in Ukraine, which risked upending global food and energy markets, “with major implications for the global climate agenda”.

As major economies pursue a so-called “all-of-the-above” strategy to replace Russian fossil fuels, short-term measures might create long-term fossil fuel dependence and close the 1.5 degrees window, he warned.

“Countries could become so consumed by the immediate fossil fuel supply gap that they neglect or knee-cap policies to cut fossil fuel use,” Guterres insisted.”This is madness.”
As fossil fuels reliance continues to put the global economy and energy security at the mercy of geopolitical shocks and crises, “the timeline to cut emissions by 45 per cent is extremely tight”.

From high capital costs to technical challenges and inadequate finance, helping emerging economies to transition from coal to renewable energy has hit many roadblocks, he said.

“Developed countries, multilateral development banks, private financial institutions and companies with the technical know-how – all need to join forces…to deliver support at scale and with speed to coal-intensive economies,” he added.

“Although a ‘major challenge’, developed and emerging economies must cooperate with each other for all G20 countries to deliver emission reductions. And while all G20 nations have agreed to stop funding coal abroad, they must now dismantle their own coal infrastructure.”

The Secretary-General said that “even the most ambitious action” could not erase the fact that “the situation is already bad” and in some places irreversible.

“Adaptation and mitigation must be pursued with equal force and urgency… adaptation investments need to be dramatically scaled up to keep pace with accelerating impacts,” he said, calling on all donors and technical partners to work with the UN and vulnerable governments to identify and fund projects and programmes.”

The top UN official also pressed for new, simplified eligibility systems and increased adaptation and resilience investment.

Beginning with public finance, he said, wealthier countries must make good on their 2022 climate financial commitment of $100 billion to developing countries – with international financial institutions making it a priority….

Secondly, he said, blended finance required those institutions to partner with the private sector for joint investments, and innovation, to unlock trillions for the transition.

Finally, private finance must invest “far more” in net-zero and climate-resilient transitions for emerging economies, he added.
“It is the right thing to do – and the profitable thing to do,” he argued.

Instead of “hitting the brakes” on decarbonizing the global economy, the Secretary-General urged everyone to “put the pedal to the metal towards a renewable energy future”.

He concluded by laying out steps to meet the 1.5 degree goal, beginning with accelerating the phase-out of coal and fossil fuels; implementing a just and sustainable energy transition; and strengthening national climate plans.

“Also imperative is to help emerging economies urgently phase out coal; increase climate finance to unlock needed trillions; decarbonize major sectors – such as shipping, aviation, steel and cement – and protect the most vulnerable by ensuring an equal focus on adaptation.”