Guterres Urges G20 to Lead in Climate Finance at COP29, Calls for Urgent Action to Combat Global Warming

Original source: The news agency Turan

In a strong opening speech at the COP29 World Leaders Climate Summit, United Nations Secretary-General António Guterres called on G20 nations to play a central role in financing the fight against climate change, emphasizing their responsibility as the largest emitters of greenhouse gases.

“These countries are the biggest polluters, but they also have the greatest resources and obligations,” Guterres said, addressing leaders gathered in the Azerbaijani capital. “They must combine their technological expertise with other developed nations to support developing economies in the battle against climate change.”

Guterres pledged the UN’s continued support for these efforts, citing the organization’s current work to help developing nations draft new Nationally Determined Contributions (NDCs) through the "Climate Promise" initiative. He also highlighted the UN’s creation of an expert group to guide the global energy transition, stressing that success depends on national ambitions and actions.

2024 Set to Be the Hottest Year on Record

Guterres warned that 2024 is on track to become the hottest year ever recorded, with dire consequences. “This means the destruction of biodiversity, more frequent floods and storms, and increased hunger. All these disasters are made worse by human-induced climate change. No country is immune,” he cautioned. “In our interconnected global economy, supply chain disruptions lead to rising costs everywhere. Failed crops drive up food prices across the globe.”

He called on world leaders to accelerate climate adaptation efforts and align their next round of national climate plans (NDC 3.0) with the 1.5-degree Celsius temperature limit.

Public Demand for Climate Action Grows

Guterres cited a survey conducted by Oxford University and the United Nations Development Programme, which found that 80% of people worldwide want stronger measures to address climate change. “Scientists, activists, and young people are demanding change — they must be heard, not silenced,” he declared. “The economic case for action is clearer than ever, with each launch of renewable energy projects and each drop in electricity prices.”

He underscored that solar and wind energy are now the cheapest sources of new electricity almost everywhere. “It is absurd to increase the share of fossil fuels,” Guterres stated.

A Three-Pronged Approach to Climate Action

The Secretary-General outlined three urgent priorities for the international community. First, he called for an immediate reduction in emissions. “To limit global temperature rise to 1.5 degrees Celsius, we must cut global emissions by 9% each year. By 2030, they must fall by 43% compared to 2019 levels,” Guterres said. He urged leaders at COP29 to agree on fair and effective rules for carbon markets that respect the rights of local communities and prevent greenwashing.

The second priority is enhancing protection against the devastating impacts of the climate crisis. Guterres highlighted the vulnerability of developing nations, noting that the funding gap for climate adaptation could reach $359 billion annually. “The most vulnerable remain defenseless against extreme weather events,” he said.

Bridging the Climate Finance Gap

Guterres’ third point was the urgent need for increased climate finance. “This is not an abstract issue — it is about lost lives, ruined crops, and missed development opportunities,” he stated. He called on developed nations to double adaptation funding to at least $40 billion per year by 2025. “Investments in adaptation can transform economies and help achieve sustainable development goals.”

Guterres also emphasized the need for new national climate plans to define financing needs for adaptation and called for a global early warning system by 2027 to protect everyone on Earth.

Calls for Greater Support to Developing Nations

Guterres highlighted the necessity of boosting contributions to the Loss and Damage Fund, arguing that developing countries face numerous barriers, including limited public financing, high capital costs, and mounting debt burdens. “The result is delayed adaptation. This must change,” he stressed.

As the summit continues, Guterres’ message is clear: the world must act swiftly and decisively to curb emissions, protect vulnerable populations, and fulfill financial commitments. Without such action, the climate crisis will only deepen, threatening the very foundation of global stability.