Addressing the Summit today (07 Nov), Guterres introduced the Climate Solidarity Pact as “a Pact in which all countries make an extra effort to reduce emissions this decade in line with the 1.5-degree goal. A Pact in which wealthier countries and International Financial Institutions provide financial and technical assistance to help emerging economies speed their own renewable energy transition.”

At the opening of the two-day Climate Implementation Summit at COP27, UN chief António Guterres called for a historic Pact between developed and emerging economies – a Climate Solidarity Pact, to combine capacities, and pivot the world towards reducing carbon emissions, transforming energy systems and avoiding a climate catastrophe.

He added that it is also “a Pact to end dependence on fossil fuels and the building of coal plants – phasing out coal in OECD countries by 2030 and everywhere else by 2040. A Pact that will provide universal, affordable, sustainable energy for all. A Pact in which developed and emerging economies unite around a common strategy and combine capacities and resources for the benefit of humankind.”

Guterres called on the two largest economies – the United States and China, stating that they have a particular responsibility to join efforts to make this Pact a reality. He reiterated that this is the only hope of meeting the climate goals.

On lost and damage, Guterres said, “the deadly impacts of climate change are here and now. Loss and damage can no longer be swept under the rug. It is a moral imperative.”

He added, “it is a fundamental question of international solidarity -- and climate justice.”

Guterres continued, “those who contributed least to the climate crisis are reaping the whirlwind sown by others. Many are blindsided by impacts for which they had no warning or means of preparation.”

The UN chief called for “universal early warning systems coverage within five years,” and asked “all governments tax the windfall profits of fossil fuel companies”

He said, “let’s redirect the money to people struggling with rising food and energy prices and to countries suffering loss and damage caused by the climate crisis.”

Concluding his speech, the UN Chief reiterated, “we need all hands-on deck for faster, bolder climate action. A window of opportunity remains open, but only a narrow shaft of light remains.”

He said, “let’s fight together– and let’s win.”

The COP27 hosting country’s President Abdel Fattah El-Sisi, said, “it's time, to act and implement. There is no turning back or create any challenges to justify this - missing an opportunity will waste the legacy of future generations of our children and grandchildren.”