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United Nations warns governments to shift funding toward renewable energy

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Posted: Wednesday, October 27, 2021. 1:10 pm CST.

By Aaron Humes: A new United Nations report outlines governments’ fossil fuel production plans are dangerously out of sync with the limits set in the Paris Agreement, as Secretary-General António Guterres warned that all taxpayers, public and private, must urgently shift their funding towards renewable energy to accelerate total decarbonization and access to renewable sources for all

According to Secretary-General Guterres on Twitter, as reported by Prensa Latina, there is still a long way to go towards a future in which clean energies predominate.

The United Nations Environment Program (UNEP) reports a gap between the production of fossil fuels such as petroleum and coal and that of renewable energy. Despite increasing climate ambitions and commitments to achieve carbon neutrality, governments still plan to produce more than double the amount of fossil fuels by 2030, the UNEP study released in 2019 indicates.

It also states that during the next two decades, an increase in world oil and gas production is projected, and only a modest decrease in that of coal.

‘There is still time to limit long-term warming to 1.5 degrees Celsius, but this window of opportunity is closing rapidly,’ stressed UNEP Executive Director Inger Andersen. At the United Nations Climate Conference – known as COP26 – and beyond, governments must step forward, take swift and immediate action to close the fossil fuel production gap, she added.

According to the UNEP report, governments of countries such as Australia, Brazil, the United States, Canada, China, Germany, India, Indonesia, Mexico, Norway, Russia, Saudi Arabia, South Africa, the United Arab Emirates, and the United Kingdom continue to provide important political support for the production of fossil fuels.

Additionally, more than $ 300 billion in new funding has been spent on fossil fuel activities since the start of the COVID-19 pandemic, more than was spent on clean energy.

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