Guterres calls for $1.3 trillion a year for climate at COP31
By the AFREEQUE newsroom, based on Premium Times
UN Secretary-General António Guterres accused fossil fuel lobbies of blocking climate negotiations at COP31 and called for $1.3 trillion a year for developing countries. The amount extends the climate finance agreement reached at COP29 in Baku in 2024, according to Premium Times.
UN Secretary-General António Guterres is calling for climate action financing in developing countries to be increased to $1.3 trillion a year. This ambition builds on the agreement reached at COP29 in Baku in 2024, reports Premium Times.
The financial target is intended to meet the needs of developing countries in the face of climate change, as discussions continue at COP31 in Türkiye. António Guterres had already called for reducing the influence of interests linked to fossil fuels at the conference, according to Premium Times.
The demand comes after discussions on increasing funding for climate adaptation at COP31 and Ethiopia’s assessment of the cost of developing countries’ debt interest at $1 trillion. Climate adaptation financing is among the issues being examined at the conference.
It also comes a day after Guterres criticised oil companies’ profits at COP31, on 10 November.
Updated 12 November 2026: António Guterres is calling on governments to tax windfall profits of oil companies to finance climate recovery in vulnerable countries. Read: Guterres calls for oil profits to be taxed to finance climate action.
