We’re On Highway To Climate Hell, UN Chief Guterres Warns As COP27 Takes Off

The New Diplomat
Writer

Ad

Central Banks Now Hold More Gold Than U.S. Treasuries

Key Takeaways For the first time since 1996, foreign central banks’ gold reserves have overtaken their U.S. Treasury holdings. Persistent gold buying and rising U.S. debt risks are reshaping reserve composition toward hard assets. Central banks have crossed a symbolic line: their combined gold reserves now exceed their U.S. Treasury holdings for the first time…

Alleged Christian Genocide: Nigerian Lawmakers Slam US Bill, Call It A “Malicious lie”

By Abiola Olawale The House of Representatives on Wednesday condemned a United States congressional bill accusing Nigerian officials of allegedly enabling "systematic" religious killings, particularly against Christians. Lawmakers branded the legislation a "gross misrepresentation" of the country's security woes, insisting that violence stems from terrorism and banditry, not state-sponsored persecution. This position comes in response…

Alleged ₦4bn Fraud: Drama as Kano Anti-Graft Agency Moves to Probe Ganduje’s Govt

By Abiola Olawale The Kano State Public Complaints and Anti-Corruption Commission (PCACC) has launched an investigation into an alleged diversion of over ₦4 billion in public funds during the tenure of former Governor Abdullahi Umar Ganduje. The New Diplomat reports that the probe is said to be centered on the Dala Inland Dry Port project.…

Ad

SHARM EL-SHEIKH, EGYPT – United Nations Secretary General Antonio Guterres told countries gathered at the start of the COP27 summit in Egypt on Monday they face a stark choice: work together now to cut emissions or condemn future generations to climate catastrophe.

The speech was intended to set an urgent tone as governments sit down for two weeks of talks on how to avert the worst impacts of climate change.

The summit comes as the world continues to be bogged down by Russia’s war in Ukraine, rampant consumer inflation and energy shortages.

“Humanity has a choice: cooperate or perish,” Mr Guterres told delegates gathered in the seaside resort town of Sharm el-Sheikh. Leaders from countries from Britain to Saudi Arabia are scheduled to speak later in the day.

Mr Guterres called for a pact between the world’s richest and poorest countries to accelerate the transition from fossil fuels and speed up delivery of the funding needed to ensure poorer countries can reduce emissions and cope with the unavoidable impacts of warming that has already occurred.

“The two largest economies – the United States and China – have a particular responsibility to join efforts to make this pact a reality,” he said.

Mr Guterres asked countries to agree to phase out the use of coal, one of the most carbon-intense fuels, by 2040 globally, with members of the Organisation for Economic Cooperation and Development hitting that mark by 2030.

The Egypt COP is the 27th Conference of the Parties.
Despite decades of climate talks, progress has been insufficient to save the planet from excessive warming as countries are too slow or reluctant to act, he noted.

“Greenhouse gas emissions keep growing. Global temperatures keep rising. And our planet is fast approaching tipping points that will make climate chaos irreversible,” he said. “We are on a highway to climate hell with our foot on the accelerator.”

Signatories to the 2015 Paris climate agreement pledged to achieve a long-term goal of keeping global temperatures from rising more than 1.5°C above pre-industrial levels.

Scientists have set this as the ceiling for avoiding catastrophic climate change.

Mr Guterres said that to keep any hope alive of meeting that goal means achieving global net zero emissions by 2050.

“It is either a Climate Solidarity Pact – or a Collective Suicide Pact,” he said.

NEWS AGENCY

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp