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G20 leaders can prevent climate collapse, but rules need to change, says UN chief

United Nations Secretary-General António Guterres said G20 leaders have the power to stop a climate crisis that is “spiraling out of control” and called on them to overhaul global financial rules that he described as outdated and unfair.

“The climate crisis is worsening dramatically – but the collective response lacks ambition, credibility and urgency,” Guterres said in a speech in New Delhi, India, which is chairing this weekend’s G20 summit.

Guterres called on the G20 to commit to keeping the “1.5°C target” alive – referring to the 2015 Paris Agreement target of limiting the rise in global average temperature to well below 2°C above pre-industrial levels , and aiming for 1.5°C.

“I presented a Climate Solidarity Pact – in which large emitters make additional efforts to reduce emissions; and richer countries support emerging economies to achieve this,” said Guterres.

The plan calls for developed countries to reach net-zero carbon emissions as close to 2040 as possible, and emerging economies as close to 2050 as possible, proposing a coal phase-out by 2030 in OECD countries and 2040 in all others.

“The climate crisis is spiraling out of control. But the G20 countries are in control,” he said.

“Together, G20 countries are responsible for 80% of global emissions. Half measures will not prevent total climate breakdown.”

The UN chief also called on G20 leaders to secure a stimulus of at least $500 billion a year to meet the organization’s Sustainable Development Goals.

An effective debt resolution mechanism is needed to support payment suspensions, longer loan terms and lower rates on fairer terms for poorer countries, he said.

Calling the global financial architecture “outdated, dysfunctional and unfair,” Guterres said it needs deep structural reform. “And the same can be said of the United Nations Security Council.”

See also: G20 leaders are on their way to India for summit

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Source: CNN Brasil

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