UN chief urges governments to stop propping up polluting fossil fuels

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on Euronews or enjoy below:

🗞️ Driving the news: UN Secretary-General António Guterres has called on governments to end fossil fuel subsidies, describing them as “subsidising suicide” as public funding continues to support activities that damage the climate and biodiversity
• Speaking in Yerevan, Armenia, ahead of the UN biodiversity summit, COP17, he urged countries to redirect this money towards protecting nature and supporting people

🔭 The context: Countries pledged in 2022 to reduce harmful subsidies by $500 billion annually by 2030, but progress remains limited
• According to the UN, an estimated $2.6 trillion in public subsidies each year supports activities that negatively affect nature and the climate
• Meanwhile, a new report warns that the world is off track to meet the 2030 biodiversity targets, including the goal of protecting 30% of the world’s land and oceans
• Türkiye and Australia, the COP31 hosts, are planning substantial increases in fossil fuel production, according to a Global Witness report

🌍 Why it matters for the planet: Fossil fuel subsidies can encourage continued production and consumption of coal, oil and gas, increasing greenhouse gas emissions and delaying the energy transition
• Redirecting public money towards ecosystem restoration, conservation and clean energy could support both climate goals and biodiversity protection

⏭️ What’s next: Nearly 200 countries are gathering in Armenia for COP17, where financing for nature is a central issue
• Attention will also turn to COP31 in November, as governments face pressure to align public spending and fossil fuel production plans with their climate commitments
• However, a global consensus on concrete fossil fuel phaseout targets remains elusive

💬 One quote: “Nature won't thrive on good intentions,” said UN Secretary-General António Guterres.

📈 One stat: $2.6 trillion a year — the estimated value of public subsidies that negatively affect nature and the climate, according to figures cited by the UN.

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