UN Chief Demands Global Finance Overhaul for Climate Justice
(MENAFN) UN Secretary-General Antonio Guterres on Tuesday urged urgent reforms in the global financial system to significantly increase developing countries’ involvement, highlighting their frontline exposure to the severe effects of climate change.
Speaking at a joint press briefing with Papua New Guinea’s Prime Minister James Marape, Guterres emphasized that developing nations must gain greater influence in both the institutions and decision-making processes governing international finance and climate funding, according to a UN statement.
Currently visiting Papua New Guinea to mark its 50th independence anniversary, Guterres made history as the first UN Secretary-General to step foot in the small Pacific island nation.
"This is a moment of great global turbulence—from conflicts to the climate emergency to economic instability and inequality," he said.
He stressed that developed countries "must" honor their climate finance promises, with a crucial focus on doubling adaptation funding to help vulnerable nations and communities enhance resilience.
"Papua New Guinea has long led the charge for climate justice. Your country does not contribute to climate change—on the contrary, you absorb CO₂—but are at the first line of its dramatic impact," Guterres noted.
As the UN Climate Conference nears in Brazil, he called for accelerated action to preserve the 1.5-degree Celsius target.
"This means an immediate turning point leading to a drastic reduction in emissions that can no longer wait," he said.
Guterres pointed out the G20 nations bear a special responsibility, accounting for 80% of global climate pollution.
He concluded by highlighting the upcoming Brazil summit’s critical task: delivering a credible strategy to meet the $1.3 trillion financing goal set last year in Baku, Azerbaijan.
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