As foreign ministers from the G20 group of industrialised nations met on Wednesday to discuss sustainability and justice issues, the UN chief urged global financial institutions to “cooperate and collaborate for the good of humanity.”
UN Secretary-General António Guterres, said progress on ending the climate crisis, inequality and the harmful impact of new technologies was “slipping” and in need of an intervention.
He noted that the adoption of the Pact for the Future adopted on Sunday at the was an essential first step: “The work starts today,” Mr. Guterres said. “The Pact for the Future is about action in the here and now.”
Finance and climate
Secretary-General Guterres said countries in the G20 need to work together to achieve a more sustainable world by acting on reforming the international financial system and solving the climate crisis.
“We need ambitious reforms of the international financial architecture to make it fully representative of today’s global economy, so it can provide strong support to implement the Sustainable Development Goals,” Mr. Guterres said.
The UN chief further urged the need for stronger action on soaring debt burdens and financial systems that will reduce the cost of inequalities facing many communities.
Action is also needed to address the climate crisis as 2024 saw record-breaking temperatures and destructive weather events.
The clear solution, according to the Secretary-General, is reducing the use of fossil fuels and transitioning to renewable energy.
“Clean energy investments in emerging and developing economies outside China and India have barely increased since 2015,” Mr. Guterres said. “The energy transition must be based on justice and equity, so that all countries benefit.”
Inclusive global institutions
Mr. Guterres also called for the establishment of inclusive global institutions that will “tackle the challenges of today and tomorrow.”
He said stronger reforms can be unlocked if there is fair and representative governance.
“The Pact for the Future includes commitments to make multilateral institutions more representative, effective, transparent and accountable,” Mr. Guterres said.
Commitment to collaboration
The UN chief ended his message to G20 ministers by reminding members that the UN is committed to “strengthening our convening role as an inclusive platform for dialogue and action” partly through hosting summits in 2025 that will allow for effective dialogue to occur.
“I urge the G20 to seize every opportunity to raise ambition for global leadership and transformative action for a safer, more peaceful and sustainable world for all,” he said.
