UN Warns of Climate Crisis, 2 Years to Save the World

On Wednesday, a warning from the UN stated that humanity has just two years to save the world and reverse the current course and recognize the risks of the climate crisis threatening the planet.

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In recent statements, the executive secretary of the United Nations Framework Convention on Climate Change, Simon Stiell, called for dramatic changes to curb emissions and financial decisions that prioritize climate.

"Who has exactly two years to save the world? The answer is every single person on this planet," Stiell told an event in London, where he echoed the body's warnings after 2023 racked up some of the worst statistics for the planet.

"More and more people want climate action across societies and political spectrums, in large part because they are feeling the impacts of the climate crisis in their daily lives and household budgets," he acknowledged.

If emissions continue at the current rate, Stiell warned, they will further entrench the huge inequalities between the world's richest and poorest countries and communities.

The latest Financing for Sustainable Development Report 2024 estimates that $4.2 trillion a year is needed to close the financing gap for development, a figure far higher than the $2.5 trillion needed before the Covid-19 pandemic.

The UN recognizes that this context is, in large part, caused by rising geopolitical tensions, climate disasters and a global cost-of-living crisis that affect billions of people and undermine progress on health care, education and other development goals.

According to the analysis, debt servicing in the least developed countries will be $40 billion per year between 2023 and 2025, more than 50 percent higher than the $26 billion in 2022.

In that context, stronger and more frequent climate-related disasters account for more than half of the increase in debt in vulnerable countries.

Presenting the study this week, UN Deputy Secretary-General Amina Mohammed called for urgent action to rescue the Sustainable Development Goals, warning of the regrettable slippage from the targets.

She called for increased investment and a reform of the international financial system, given the risk that 600 million people will be living in extreme poverty by 2030 if the current pace continues.

About 40 percent of the world's population - some 3.3 billion people - live in countries where governments now spend more on interest payments than on education or health.

"Average growth rates have declined steadily over the past 25 years, from more than six percent before the global financial crisis more than 15 years ago to around four per cent today," he said.