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‘Forge Pathways to Cooperation within our Fragmented World, Adopt Multilateral Institutions’, Secretary-General Tells Davos Economic Forum

But benchmarks and criteria are often doubtful or murky.   This could mislead consumers, investors plus regulators with false narratives.   And it feeds a culture of climate false information and confusion, and simply leaves the door open to greenwashing. We learned last week that certain precious fuel producers were fully aware in the 1970s that will their core product has been baking our planet.   Just like the tobacco industry, these people rode rough-shod over their own science. I am not here in order to sugar-coat the scale of this challenge — or the sorry state of our world.   We can’t confront complications unless we look all of them squarely in the eye.   And we are looking into the eyesight of a Category 5 storm. Your theme perfectly aims the dilemma of the current world:   We need cooperation, yet we face fragmentation. On global as well as energy prices.   On trade and supply chains.   On questions of nuclear safety. Add to all that an additional major and, indeed, existential challenge.   We are flirting with climate disaster. Yet our climate goals need the full engagement of the personal sector.   The truth is that will more and more businesses are making net zero commitments. And multilateral development banks must change their particular business model.   Beyond their very own operations, which are, of course , very important, they must concentrate on multiplying their impact, leveraging massively private finance in a systematic method, providing guarantees, accepting to be first risk-takers in coalitions of financial institutions to support developing countries. We all see deepening inequalities and a rapidly unfolding cost-of-living problems — affecting women and girls the most.   Supply chain disruptions and an energy crunch.   Soaring prices.   Rising interest rates along with inflation.   And debt levels pounding vulnerable countries.   Add to all of that the lurking effects of the pandemic.   COVID-19 is still straining economies — with the world’s failure to prepare for future pandemics, that failure is straining our credulity. But this is not a surprise.     The technology has been clear for decades.   And I am not speaking only about United Nations scientists.   I am talking even about fossil fuel scientists. Second, bridging divides plus restoring trust means significant climate action, and environment action now. But these are far from the best of times — and the world is far from getting united.   Instead, we face the gravest levels of geopolitical division and doubtfulness in generations — in fact it is undermining everything. Now, there are several aspects in which United States-China relations will inevitably curve — particularly on questions of human rights and some areas of regional protection. Thank you very much for your delightful and thank you, dear President [Klaus] Schwab, for your kind words.   It is very good to be in Davos, and once again personally. We danger what I have called the great fracture — the decoupling of the world’s two largest economies.   A tectonic rift that would create 2 different sets of trade rules, two dominant foreign currencies, two internets and two conflicting strategies on artificial intelligence.   This is the final thing we need. Many parts of the entire world face recession and the entire world faces a slowdown. We are doing our best making progress where we can — especially in facilitating exports associated with food and fertilizers from Ukraine and also Russia.     But we are a significantly cry from peace in line with international law and the United Nations Charter. Frustration plus anger about the gross inequity of vaccine distribution in the recent past. And, finally, what is true about private sector engagement upon climate applies across a variety of challenges. Nowadays, fossil fuel producers plus their enablers are still racing to expand production, knowing full well that this business structure is inconsistent with individual survival.   Now, this insanity belongs in science fiction, yet we know the particular ecosystem meltdown is chilly, hard scientific fact. Somehow — after all we have endured — we have not learned a global public health lessons of the pandemic.   We are nowhere fast near ready for the pandemics to come. The consequences, as we all know, would be devastating.   Several parts of our planet will be uninhabitable.   And for many, it would mean a demise sentence. At this point, we need to bridge all these splits and we need to restore believe in. The battle to keep the 1 . 5°C limit alive will be won or lost in this decade.   On our watch.   And right now, we have to concede that the battle is being dropped. First, the East-West divide. Government action is critical — even if obviously it’s not enough. Now, let us be clear.   It could be difficult to find solutions to these global interlinked problems in the best of times, and in a world that would be united. In short, we need a new financial debt architecture. Some in Huge Oil peddled the big are located.   And like the smoking cigarettes industry, those responsible should be held to account. Annoyance and anger over a morally bankrupt financial system in which systemic inequalities are amplifying social inequalities. To make sure greater engagement and cooperation for vaccine equity. Initial — by reforming and building fairness into the worldwide financial system. But despite that, it is possible — and I would say it is essential — for the two nations to have meaningful engagement on climate, trade and technology to avoid the decoupling associated with economies or even the possibility of future confrontation. Without creating the conditions for the massive engagement from the private sector, it will be extremely hard to move from the billions to trillions that are needed to achieve the Sustainable Development Goals. Following is UN Secretary-General António Guterres’ remarks at the Globe Economic Forum, in Davos, Switzerland, today: You will find no perfect solutions within a perfect storm.   Yet we can work to control destruction and to seize the possibilities available. Because, if they don’t, we will not be able to reduce exhausts at the level that is necessary to keep the 1 . 5°C objective — I would say to keep the 2°C goal alive. Frustration and anger about pandemic recovery — along with support overwhelmingly concentrated within wealthier countries that could print money. I am not convinced how the wealthier world and their particular leaders truly grasp the level of frustration and even anger within the global South. How can we do it? The International Financial Fund (IMF) reported that will dividing the global economy straight into two blocs could cut global gross domestic product (GDP) by a whopping . 4 trillion. For this reason we created an expert team on net-zero emissions commitments.   Recently the group offers issued a how-to guideline for credible, accountable net-zero pledges. All these challenges are usually interlinked.   They are piling up like cars in a string reaction crash. Governments need to develop the adequate regulatory and stimulus environments to support the private sector instead of maintaining guidelines, subsidies, and other forms of actions that undermine the attempts of the private sector to relocate forward in climate action. Especially the Russian Federation invasion of Ukraine — not only because of the untold suffering of the Ukrainian individuals, but because of its profound global implications. And business models plus practices must be reworked to progress the Sustainable Development Targets. On the very fundamentals of international law and the Charter of the United Nations. To lead the way to broaden economic opportunity for women. At the same time, and secondly, the North-South divide is deepening. And the biggest emitters — namely the G20 countries — must unite around a Climate Solidarity Pact in which they make additional efforts in the 2020s to maintain the 1 . 5°C restrict alive. Our world is plagued by a perfect storm on a number of fronts.   Start with the temporary, a global economic crisis.   The particular outlook, as we all know, is bleak. Here at Davos, I actually call on all corporate market leaders to act based on these recommendations.   To put forward credible and transparent transition intentions of how to achieve net zero — and to submit those plans before the end of this year. And it doesn’t function if developed countries attribute responsibility to emerging economies, and emerging economies attribute responsibility to developed nations.   They need to come together, to bring together all their capacities — financial and technological — with the developed ones giving financial and technical assistance to help the major emerging financial systems accelerate their renewable energy changeover. Even in the midst of the war, the insurance sector has helped support the movement of vessels through Ukraine and Russia.   We urgently need additional private sector actors to interact, such as the banking sector, the traders and the shippers.   Across the spectrum of global challenges, we need private sector resourcefulness and cooperation to be able to advance in our common objectives of peace, sustainable advancement and human rights. A system in which the majority of the world’s poorest countries saw their debt service payments skyrocket by 35  % in the last year alone. A system that is still routinely denying debt relief and concessional funding to susceptible middle-income countries that are in desperate need.   Because the rules are not made to enable it. Each week brings a new climate horror story.   Greenhouse fuel emissions are at record ranges and growing.   The particular commitment to limit worldwide temperature rise to 1. 5°C is nearly going up in smoke.   Without further action, we are headed to a second . 8°C increase. Developing countries need access to finance to reduce low income and hunger and enhance the Sustainable Development Objectives. Now, the transition to net zero must be grounded in real exhausts cuts — and not relying essentially on carbon credit or shadow markets. Now more than ever, it is time to forge the paths to cooperation in our fragmented world.   To adopt multilateral institutions, to bring trust to where trust is badly needed, because the world are unable to wait. Add to this toxic brew yet another combustible factor — conflict, assault, war. And for that, we need the cooperation of the private sector to keep Ukrainian and Russian food and fertilizer exports flowing and affordable. Frustration and frustration about a climate crisis which is crippling countries that led least to global heating system. And the lack of the financial resources to respond to the challenge. Without creating the conditions for massive inflow of private finance with reasonable cost to the developing world, there is simply no remedy.   International financial institutions are very small and the capacity to improve ODA is not to be seen for the short term. And trillions had been printed in the global North, and of course developing countries could hardly print money because their particular currencies would go down the particular drain. So , we need to act with each other to close the exhausts gap.   And that way to phase out progressively fossil fuel and supercharge the renewable revolution.   To end the addiction to fossil fuels.   And also to stop our self-defeating battle on nature. On the other hand, the developed world must finally deliver on its 0  billion climate finance commitment to support developing countries.   Adaptation finance must be doubled, as it was promised within Sharm El-Sheikh. To achieve global food security. We must find strategies to boost the private sector’s ability to play its full role for good.   Also it must be recognized that, in lots of ways, the private sector these days is leading, but it can be, to a certain extent, undermined by Federal government action, or the lack of Govt action. For the historians that could be listening:   We must prevent a twenty-first century follow up of the so-called Thucydides Trap. I have urged the G20 to agree on a global Eco friendly Development Goals Stimulus Strategy that will provide support in order to countries of the global South — including the vulnerable middle-income ones.   They need the necessary liquidity, debt relief and restructuring — as well as long-term lending — to invest in sustainable growth.

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