Last week, on the occasion of World Environment Day, United Nations Secretary-General António Guterres stated that countries must confront not just the fossil-fuel industry, but also companies that support efforts to obstruct climate action. He asserted that the industry has been spending billions on ‘distorting the truth, deceiving the public, and sowing doubt’ about climate change, while investing just ‘a measly 2.5%’ of its total capital on clean energy alternatives.
The Secretary-General called on these companies to stop acting as enablers to planetary destruction in taking on new fossil-fuel clients, and to set out plans to drop existing ones. He also criticised financial institutions as well as media and public relations firms for supporting the industry’s advertisements and accepting content sponsorships. The Secretary-General noted that climate finance is not a favour but is fundamental to a livable future for all. He asserted that it is high time to put an effective price on carbon, and tax the windfall profits of fossil-fuel companies.