Source: UN Youtube channel
Jakarta – The energy crisis exacerbated by the war in Ukraine has resulted in a dangerous doubling of fossil fuels by major economies. In this regard, the United Nations (UN) warned of the dangers of adding new investments to fossil energy projects.
New funding from governments for fossil fuel exploration or production is simply “delusional” UN Secretary-General Antonio Guterres said at the Austrian World Summit on Tuesday (14/6), adding that it would only “further feed the scourge of war, pollution and climate catastrophe.”
Scientists say global carbon dioxide emissions need to be reduced by 45 percent by 2030, and reach net zero or carbon neutral by 2050 to avoid the worst impacts of climate change. Countries investing in new fossil fuels also each have a target to reduce CO2 emissions by 2030.
Since Russia’s invasion of Ukraine in February, several countries have turned to buying more non-Russian fossil fuels or investing in new oil and gas fields to shore up their energy supplies.
For example, Germany and the Netherlands announced plans this month to develop a new North Sea gas field, and Chancellor Olaf Scholz also said Germany wanted to pursue a gas project with Senegal.
Furthermore, Germany has renewed its relations with Middle Eastern countries and companies. As a result, the country agreed to deepen clean hydrogen collaboration with the UAE and national oil and gas company ADNOC. More recently, Qatar and Germany have agreed to further cooperate in the energy field, particularly with regard to LNG trade and hydrogen development.
Guterres called on all financial actors to abandon fossil fuel financing and invest in renewable energy. He said renewables were a “21st century peace plan” and called for fossil fuel financing to be abandoned wholesale, in favor of green alternatives. (Hartatik)
