AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

SHARM EL-SHEIKH: United Nations Secretary General Antonio Guterres told countries gathered at the start of the COP27 summit in Egypt on Monday they face a stark choice: work together now to cut emissions or condemn future generations to climate catastrophe.

The speech was intended to set an urgent tone as governments sit down for two weeks of talks on how to avert the worst impacts of climate change, even as they are distracted by Russia’s war in Ukraine, rampant consumer inflation and energy shortages.

“Humanity has a choice: cooperate or perish,” Guterres told delegates gathered in the seaside resort town of Sharm el-Sheikh.

Leaders from countries from Britain to Saudi Arabia were scheduled to speak later in the day.

Guterres called for a pact between the world’s richest and poorest countries to accelerate the transition from fossil fuels and speed up delivery of the funding needed to ensure poorer countries can reduce emissions and cope with the unavoidable impacts of warming that has already occurred.

“The two largest economies – the United States and China – have a particular responsibility to join efforts to make this pact a reality,” he said.

Guterres asked countries to agree to phase out the use of coal, one of the most carbon-intense fuels, by 2040 globally, with members of the Organisation for Economic Cooperation and Development hitting that mark by 2030.

Despite decades of climate talks - the Egypt COP is the 27th Conference of the Parties - progress has been insufficient to save the planet from excessive warming as countries are too slow or reluctant to act, he noted. “Greenhouse gas emissions keep growing.

Global temperatures keep rising. And our planet is fast approaching tipping points that will make climate chaos irreversible,“ he said. “We are on a highway to climate hell with our foot on the accelerator.”

Signatories to the 2015 Paris climate agreement pledged to achieve a long-term goal of keeping global temperatures from rising more than 1.5°C above pre-industrial levels.

COP27: IMF chief says $75/ton carbon price needed by 2030

Scientists have set this as the ceiling for avoiding catastrophic climate change.

Guterres said that to keep any hope alive of meeting that goal means achieving global net zero emissions by 2050.

“It is either a Climate Solidarity Pact – or a Collective Suicide Pact,” he said.

Comments

Comments are closed.