Multilateral banks must be established to fight climate change - António Guterres

Economy Materials 11 December 2023 12:58 (UTC +04:00)
Multilateral banks must be established to fight climate change - António Guterres
Laman Zeynalova
Laman Zeynalova
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DUBAI, UAE, December 11. It is necessary to create multilateral banks within the fight against climate change, said UN Secretary-General António Guterres during the sidelines of the UN Climate Change Conference - COP 28, held in Dubai (UAE), Trend reports.

Guterres also said that these banks can help countries that struggle to fight climate change.

"My message from COP 28 is that we need to achieve an ambitious result. This ambitious result is that countries reach a consensus to divest from fossil energy, emphasizing a temperature limit of 1.5°C for global warming," he emphasized.

He noted that now is the time to have discussions in good faith and seek compromises for a solution.

The UN Secretary-General mentioned that COP 28 once again proved the importance of multilateralism in responding to global challenges. He said countries should actively work for fossil fuel divestment.

"There is an urgent need to start working on energy efficiency and renewable energy," he said.

According to Guterres, decarbonization will create new jobs, but certain sectors of society may suffer negative consequences, and in this direction, governments should provide socio-economic support to these sectors and prepare a plan in this regard.

Guterres also said that developed countries should help developing countries in this matter and provide financial support.

"The timetable for the steps that countries will take in the fight against climate change may vary, but it is necessary to work steadily and continuously to fulfill commitments in this regard," he added.

The UN Secretary-General welcomed the consensus reached at COP 28 and said that countries should prepare a national climate plan.

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