Watch the video here: https://s3.amazonaws.com/downloads2.unmultimedia.org/public/video/ondemand/2708736_MSG%20DSG%20MOHAMMED%20TERI%20SUMMIT%2014%20FEB%2022.mp4

Excellencies, distinguished guests, it is a pleasure to speak to you at this Summit.

Our need for action on sustainable development is clear.

The pace and scale of the climate crisis is accelerating costing lives and livelihoods.

759 million people still suffer from lack of access to energy. Billions more lack sources of clean cooking.

The situation is untenable.

But we have a roadmap for an inclusive and sustainable future.

The 2030 Agenda and the Paris Agreement have set global objectives.

The Secretary-General has also issued the Global Roadmap for Accelerated SDG7 Action.

But, as he has made clear, we need an avalanche of action.

Without transformative efforts made this decade led by all major economies to cut global emissions by 45 per cent, our collective hope for 1.5 degrees will disintegrate.

We are already speeding past 1.2 degrees.

We have made strides in deploying renewables and growing the net zero coalition – exemplified by Prime Minister Modi’s leadership – but much more is needed.

Coal must be rapidly phased-down globally by 2030 and fully phased-out by 2040. At the same time, renewable energy must be deployed at the same scale to ensure that the energy transition is not only fast, but just.

Ladies and gentlemen,

Climate impacts have been severe and traumatic and they are getting worse. Developing countries do not have years to wait.

We must urgently reduce the vulnerability of people, particularly the poorest.

This is why the Secretary-General and I have long-called for 50 per cent of climate finance to be allocated to adaptation.

Leaders in Glasgow agreed to double adaptation finance from 2019 levels. This is a good start. But it will not be enough. Access and eligibility systems must be reviewed to allow developing countries – to get the finance they need on time.

We are also calling on all stakeholders to develop Energy Compacts with specific targets and timelines to drive achievement of SDG7 – clean and affordable energy for all.

Current Energy Compacts total more than $600 billion dollars in voluntary and trackable commitments.   

Commitments must become action.

2022 must be a year of urgent implementation on all fronts – mitigation, adaptation and finance. Our sustainable development needs depend on it.  

Thank you.