Nauru President David Adeang, Cook Islands Prime Minister Mark Brown, Tonga Prime Minister Siaosi Sovaleni and United Nations Secretary General Antonio Guterres at a banquet lunch on Sunday 25 August 2024 in Nuku'alofa, preceding the Pacific Islands Forum Leaders Meeting in Tonga. The 53rd Pacific Islands Forum Leaders Meeting will be held in Tonga between 26-30 August 2024. [Source: AAP Image/Ben McKay]

United Nations Secretary-General Antonio Guterres is calling on the emitters, responsible for 80 percent of global emissions, to urgently phase out production, consumption, and expansion of fossil fuels.

Guterres says when governments issue new oil and gas licenses, they are jeopardizing our future.

Speaking at the opening of the 53rd Pacific Islands Forum Leaders’ meeting, Guterres emphasized the need for increased investment in building resilience.

“The Pacific Islands’ ambitious plans for a potential crypto city represent a forward-thinking blueprint, but the region urgently needs substantial financial resources, capacities, and technology to accelerate the transition and invest in adaptation and resilience.”

Guterres also highlights the necessity of reforming the outdated and inequitable international financial architecture.

He states that this reform should enhance the lending capacity of multilateral development banks and support effective debt relief programs, including for middle-income countries.