UN Secretary-General António Guterres this Wednesday called it “immoral” that oil and gas companies are posting record financial results during the current energy crisis and called on all governments to tax their “extraordinary profits.”
“This grotesque greed is punishing the poorest and most vulnerable people while destroying our only home,” António Guterres said at a press conference.
The Portuguese diplomat urged governments around the world to increase taxes on these “extraordinary profits” and use resources to “support the most vulnerable people in these difficult times.”
The UN official recalled that the combined profits of the world’s largest energy companies approached $100 billion in the first quarter of this year and that business in the sector has a “huge cost” in environmental impact.
Guterres spoke during the presentation of the third report prepared by UN experts on the global impact of the war in Ukraine, which this time focuses on the energy sector.
The document emphasizes that the world is experiencing a “major energy crisis” and countries around the world are suffering from high and volatile fuel prices.
Developing countries and the most vulnerable families are particularly hard hit, the report says.
Despite the recent stabilization in wholesale markets, the UN notes that this change has not led to lower inflation for most consumers.
In addition to short-term measures such as energy conservation plans, the international organization today called for a much stronger commitment to renewable energy, which Guterres says is “in most cases cheaper than fossil fuels.”
“Governments must expand and diversify the supply chains of raw materials and renewable energy technologies,” the former Prime Minister of Portugal stressed.
“This should reduce bureaucracy in the energy transition and shift subsidies to fossil fuels to support vulnerable families and increase investment in renewable energy,” he added.
Faced with this energy transition, Guterres called for increased public and private investment and urged development bank shareholders to take more risks and help countries move forward.
The UN leader also stressed that developing countries have every reason to invest in renewable energy, but do not have the resources, while richer countries pressure them to make this transition, but do not provide them with sufficient technical and financial support.
“And some of these same developed countries are introducing universal gas station subsidies, and others are reopening coal-fired plants. Such measures are difficult to justify, even temporarily,” Guterres said.
Author: Lusa
Source: CM Jornal
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
