UN Secretary-General Antonio Guterres declared at the 28th Conference of the Parties (COP28) that the global shift towards renewable energy is unavoidable. Highlighting the intersection of climate and economic sustainability, Guterres emphasized, \"The road to climate sustainability is also the only viable pathway to economic sustainability of your companies in the future.\"
He insisted that adhering to the 1.5-degree limit necessitates completely phasing out fossil fuels. \"The only question is how much heating our planet will endure before it happens. So, allow me to have a message for fossil fuel company leaders: Your old road is rapidly aging. Do not double-down on an obsolete business model. Lead the transition to renewables; using the resources you have available,\" Guterres stated.
Guterres further urged governments to support industries in making the right choices by implementing regulations, legislations, fair carbon pricing, ending fossil fuel subsidies, and adopting a windfall tax on profits. \"Make no mistake – the road to climate sustainability is also the only viable pathway to economic sustainability of your companies in the future,\" he reiterated.
Reference(s):
cgtn.com
