Guterres: emissions must peak this year and COP finance pledges must be delivered to keep 1.5°C alive

António Guterres addressed climate change as an immediate crisis and an economic opportunity, saying the world must accelerate action to keep the Paris Agreement's 1.5°C goal within reach.

Guterres said renewable energy is expanding rapidly and that “almost everywhere, solar and wind are now the cheapest sources of new electricity and the fastest growing in history.” He warned that “every year since Paris has also been among the hottest ever, and last year was the first to push past 1.5 degrees.” He said “global emissions must peak this year and rapidly decline thereafter if we are to have a sliver of hope of limiting long term global temperature rise to 1.5 degrees.”

The secretary‑general called for new national climate action plans (NDCs) that cover all sectors and greenhouse gases, and he urged plans that collectively cut emissions 60% by 2035 compared with 2019 levels. He said the G20 must lead, and the UN system is helping nearly 100 developing countries prepare new climate action plans.

On finance, Guterres urged implementation of the COP 29 agreement on finance, called for mobilizing what he described in the speech as "1.33000000 US dollars a year" to support climate action in the developing world, and pushed for a transformation in approaches to loss and damage. He said developed countries must double adaptation finance to “at least 40,000,000,000 US dollars a year this year.” He also urged phasing out fossil fuel subsidies, implementing carbon pricing and mobilizing new finance sources.

Guterres framed the renewables revolution as an opportunity for lower energy costs, better public health, good jobs and increased energy access, and he called on governments to provide policy certainty for businesses and to move from voluntary pledges to mandatory rules where needed.