18 min in · 15% of the speech · 519 words
So can businesses. So can peace processes. And so can this General Assembly. Excellencies, The third great power test is the climate crisis. In many ways, it is the most profound intergenerational power imbalance of all: One generation consuming the future of the next. One group profiting, while those least responsible suffer first and worst. Three years ago in the mountains of Nepal, I sounded the alarm on accelerating glacier melt – warning that the rooftops of the world are caving in. Some dismissed it all as overstating dangers. But – as tragic events have shown – impacts are arriving sooner, hitting harder, and spreading further than many anticipated. Now we face a near certain breach of the 1.5 degree limit, with a supersized El Niño speeding straight for humanity. The dangers are real. But so is the hope. The last decade has fuelled one of the most promising shifts in power of our time. The rise of clean energy. The sun belongs to no one. The wind cannot be embargoed. Innovation can come from everywhere. This is a profound rebalancing of power relations. Renewables are now the cheapest source of new electricity in most of the world. And the most viable path to energy security, independence and sustainable growth. Excellencies, A future beyond fossil fuels is in sight. The question is how. Will it be a just and orderly transition built on international cooperation – or chaotic and costly leaving people and countries behind? Today I call on every government to adopt a national plan to transition away from fossil fuels aligned with 1.5 degrees, with clear timelines and protection for affected workers and communities. We know fossil fuel interests won’t step aside on their own. For decades, Big Oil has treated the atmosphere as an open sewer – and cashed in on the consequences. Since Russia’s invasion of Ukraine, five major Western oil companies have pocketed nearly half a trillion dollars in profits. Compare that with just 34 billion dollars in international public adaptation finance for developing countries in the latest year reported. Meanwhile, everyday people are paying more for energy, food and insurance. We have seen this kind of abuse of power before. When the harms of Big Tobacco became undeniable – governments acted. The climate crisis demands the same determination. Those who polluted the most – and profited the most – must do far more to repair the damage they caused. Polluters must pay. And to the leaders, cities, civil society and citizens working to hold them accountable: You are on the right side of history. Keep going. And governments must keep going on all fronts: To end deforestation. Invest in grids and storage. Cut methane emissions. But these actions are not enough: We need climate justice with a focus on adaptation and finance. Developed countries must respect their commitments. They must triple adaptation finance. And make the Loss and Damage Fund work at scale. We must also ensure that the mining of critical minerals does not dig deeper into the inequities of the past. Producing countries and affected communities must retain a far greater share of the value created from their resources. No more plundering.
