The UN Secretary-General has warned that fossil fuels are not only driving the climate crisis but also carrying a steep economic and security price – as the crisis in the Middle East has laid bare.
In his remarks at COP 31, the UN Climate Conference in Antalya, Türkiye, the Secretary-General, António Guterres, pointed out that since the conflict began, the European Union alone has paid more than 100 billion euros in extra fossil fuel import costs – without receiving “a single additional molecule of fuel in return.”
In addition, petrol prices have risen by around 26 per cent – and diesel by 38 per cent across 130 countries.
Reduce dependency
“Meanwhile, nine oil companies are on track to raking more than 95 billion US dollars in just three months,” Mr Guterres said. “That is more than one billion dollars a day.”
“The only answer is to reduce dependence itself – through clean energy, grids, storage, efficiency and electrification.”
The Secretary-General urged fossil-fuel importing countries to reduce their exposure while expanding clean energy access. At the same time, he said producing countries needed to diversify their economies and prepare for changing revenues, industries and jobs.
“Taxing fossil fuel windfalls can help pay for all this – and shield families from the next price shock,” Mr. Guterres said.