Finance
UN Head Calls on Global Funding Agencies to Shun Fossil Fuels
- Secretary General says G-7 should increase climate financing
- Fossil fuel projects ‘not even cost-effective,’ Gutteres says
Antonio Guterres
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
The head of the United Nations is calling on international lending agencies to stop financing major fossil fuel projects, which he said are no longer economic investments.
UN Secretary General Antonio Guterres, in a speech Thursday, also said the Group of Seven nations should make “substantial” climate financing pledges, with some doubling prior commitments.