UN Chief wants countries to stop investing in coal, seeks climate pledges

United Nations Secretary-General Antonio Guterres is urging more countries to stop investing in coal, while pushing for developed countries to take concrete climate action.

For net-zero pledges to be backed by credible targets and timelines, subsidies have to be shifted from fossil fuels to renewables, and “it also means stopping the financing of coal domestically and abroad and phasing out its use,” Guterres said in a video message at the International Finance Forum in Beijing on Saturday.

Citing South Korea’s recent decision to halt state-backed financing of coal-fired power plants overseas, the UN chief said he’s counting on “G7 climate ministers and other leaders to make similar commitments.”