Kuwait city: UN Secretary-General Antonio Guterres on Tuesday called for coordinated global action to close energy investment gaps and reform climate finance, emphasizing that fossil fuels are in decline. Guterres made this statement in a speech titled "A Moment of Opportunity: Supercharging the New Energy Era" delivered at the United Nations headquarters.
According to Kuwait News Agency, last year, global spending on clean energy reached two trillion dollars, which is USD 800 billion more than what was spent on fossil fuels, marking an increase of nearly 70 percent over the past decade. Guterres cited IRENA data showing that over 90 percent of new renewable energy sources now produce electricity more cheaply than the least expensive new fossil fuels.
Additionally, he called for building 21st-century energy systems, including investments in modern, flexible, and digital grids, energy storage networks, and charging infrastructure. Guterres concluded his speech by stating, "The clean energy future is no longer a promise, it's a fact." He emphasized that no government, industry, or special interest can halt this transition.