‘Delusional’: UN chief slams new fossil fuel funding and warns of climate chaos


PREMO Member
“New funding for fossil fuel exploration and production infrastructure is delusional,” he said. “It will only further feed the scourge of war, pollution and climate catastrophe.”

The former prime minister of Portugal also called on “all financial actors to abandon fossil fuel finance” and invest in renewables instead.

“The only true path to energy security, stable power prices, prosperity and a livable planet lies in abandoning polluting fossil fuels — especially coal — and accelerating the renewables-based energy transition,” he said.

Renewable energy sources, Guterres argued, were “the peace plan of the 21st century.” He outlined a strategy that would, he claimed, “jumpstart the renewable energy transition.”

This included a tripling of investments in renewables, moving energy subsidies away from fossil fuels to renewables, and fast-tracking approvals for wind and solar projects.