During a significant address at the High Ambition Coalition COP29 Leaders' Meeting in Baku, Azerbaijan, United Nations Secretary-General António Guterres called on global leaders to intensify their climate commitments. In a significant reflection on the coalition's influence in the formation of the Paris Agreement nearly a decade ago, Guterres underscored the urgent necessity of the upcoming five years in shaping the global climate path. 

“In this critical moment, the call for unity and determination has never been more urgent,” Guterres said in his address to the assembled delegates.

He asserted that the global leaders must demonstrate the effectiveness of the Agreement by taking swift and decisive measures to keep the global temperature increase within the 1.5°C threshold.

As COP29 commences, the Secretary-General has identified three critical pillars for urgent action, including hastening the shift from fossil fuels, increasing climate finance, and achieving a nine percent annual reduction in emissions through 2030. He acknowledged the importance of incremental progress, such as the creation of the Loss and Damage Fund and commitments to enhance adaptation financing. However, he emphasized that the rate of change needs to accelerate significantly. 

"At the time of the Paris Agreement's adoption, projections indicated a potential temperature rise of four degrees." He emphasised stating, "Today’s policies are taking us closer to three degrees." “However, we need to accelerate our efforts significantly.”

In his clarion call to action, Guterres highlighted the critical role of the High Ambition Coalition, urging nations to submit their ambitious national climate action plans (NDCs) ahead of COP30. The proposed plans aim to align with the crucial 1.5°C target, maintain the commitments made at COP28, and underscore the need for a swift and equitable shift away from fossil fuels. 

The Secretary-General has issued a strong call to action for the world’s 20 largest economies, which together account for the majority of global emissions, urging them to lead in addressing this critical issue. “The largest contributors to emissions—the G20 nations—are called to take the lead,” he emphasised, highlighting the necessity for strong national commitments and actions that go beyond mere political statements.

During his address, Guterres emphasized the urgent necessity for developed nations to fulfill their commitment to double climate adaptation financing and ensure the establishment of the Loss and Damage Fund. This call to action is particularly critical for vulnerable countries that are already facing the severe consequences of climate change. Guterres emphasised the urgency for all nations to develop and present ambitious new national climate action plans, known as NDCs, ahead of COP30 next year, as previously committed. 

He further emphasised that reaching the required level of financial support will necessitate the mobilisation of trillions in funding. This effort will involve a substantial rise in concessional public finance and the exploration of innovative revenue streams, including levies on aviation, shipping, and fossil fuel extraction.

Guterres has boldly advocated for transformative reforms within multilateral development banks to secure substantial financing. He advocates for a recapitalization strategy aimed at significantly enhancing their lending capacities, which would enable greater leverage in private finance and catalyze essential climate investments in developing nations. He emphasized the crucial role of transparency and accountability in building trust in the delivery and accessibility of the promised funds. A comprehensive framework for these objectives is essential to motivate both nations and investors to engage meaningfully in the fight against climate change.

The Secretary-General’s remarks serve as a critical call to action for leaders across the globe. As COP29 unfolds, the backing of the High Ambition Coalition will play a crucial role in obtaining the necessary commitments for urgent climate financing and policy reforms required to address the current challenges. “Now is the time for ambition and action,” Guterres stated emphatically. “Let us unite our efforts to advance this process toward successful delivery.”