In a recent address delivered in New York, UN Secretary-General Antonio Guterres passionately appealed for the prohibition of advertising by companies in the oil, gas, and coal industry, which he deems as a crucial step in the battle against climate change. This call to action follows troubling reports from international climate monitors associated with the EU, emphasizing the precarious state of our planet’s environment.
Guterres was forthright in his language, referring to fossil fuel companies as the “godfathers of climate chaos”, and accusing them of reaping “record profits and feast off trillions in taxpayer-funded subsidies”. Alongside the proposed ban on advertising, the Portuguese politician and diplomat urged the implementation of “solidarity levies” on industries such as shipping, aviation, and fossil fuel extraction, further underscoring the need for action against these environmental threats.
The UN chief also underscored the importance of placing an effective price on carbon and taxing the considerable profits of fossil fuel companies, calling on financial institutions to cease funding their operations and instead support renewable energy initiatives. This appeal was echoed in a tweet, where he called for advertising and PR companies to cease enabling the destruction of the planet by working with fossil fuel industries.
Highlighting the ongoing reliance on coal, oil, and gas for over 75% of the world’s energy consumption and the enduring high demand for oil, Guterres emphasized the crucial imperative of reducing global emissions by 9% annually to adhere to the Paris Agreement—an international treaty aimed at limiting the increase in global temperature to 1.5°C above pre-industrial levels, adopted in 2015.
The cost of climate chaos, as elucidated by the UN chief, extends beyond environmental impact to tangible economic consequences, from disrupted supply chains and escalating prices to mounting food insecurity and uninsurable properties. A recent study projected that even in a scenario of zero emissions, climate chaos would still exact a staggering annual cost of at least $38 trillion by 2050.
Antonio Guterres stressed the significance of major emitters taking the lead in drastic emissions reductions, urging the G20 countries to demonstrate climate solidarity by aiding emerging economies and other developing nations with both financial and technological support.
The urgency of addressing these issues cannot be overstated, particularly in light of the European Commission Copernicus Climate Change Service’s report that declared May as the hottest month to date. These developments underscore the dire need for concerted and decisive action to mitigate the impact of climate change and ensure the preservation of our planet for future generations.