UN Chief wants countries to stop investing in coal, seeks climate pledges – News 24-7 Live News 24-7 Live
UN Chief wants countries to stop investing in coal, seeks climate pledges

UN Chief wants countries to stop investing in coal, seeks climate pledges

Citing South Korea’s recent decision to halt state-backed financing of coal-fired power plants overseas, the UN chief said he’s counting on “G7 climate ministers and other leaders to make similar commitments.”

For net-zero pledges to be backed by credible targets and timelines, subsidies have to be shifted from fossil fuels to renewables, and “it also means stopping the financing of coal domestically and abroad and phasing out its use,” Guterres said in a video message at the International Finance Forum in Beijing on Saturday.

Citing South Korea’s recent decision to halt state-backed financing of coal-fired power plants overseas, the UN chief said he’s counting on “G7 climate ministers and other leaders to make similar commitments.”

Coal consumption is expected to rise this year among the top three users. US power plants are projected to consume 16% more coal, and China is seen burning a record amount of the fuel, although President Xi Jinping wants the country to start reducing coal use from 2026.

News Source : Hindustan Times

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