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At the 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change, UN Secretary-General Antonio Guterres delivered a powerful message: the global shift to renewables is inevitable.
\"The road to climate sustainability is also the only viable pathway to economic sustainability of your companies in the future,\" Guterres stated. He emphasized that limiting global warming to 1.5 degrees requires stopping the burning of all fossil fuels, not just reducing or mitigating them.
Guterres didn’t hold back when addressing fossil fuel company leaders, urging them: \"Your old road is rapidly aging. Do not double-down on an obsolete business model. Lead the transition to renewables using the resources you have available.\"
The UN chief also called on governments to support industries in making the right choices by regulating, legislating, pricing carbon fairly, ending fossil fuel subsidies, and adopting windfall taxes on profits.
Together, these steps can pave the way for a sustainable and economically viable future for all.
