Pay up or Face Climate-Led Disaster for Humanity, UN Chief Warns COP29 Summit

United Nations Secretary-General Antonio Guterres delivers his speech at the UN Climate Change Conference COP29 in Baku, Azerbaijan, 12 November 2024. (EPA)
United Nations Secretary-General Antonio Guterres delivers his speech at the UN Climate Change Conference COP29 in Baku, Azerbaijan, 12 November 2024. (EPA)
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Pay up or Face Climate-Led Disaster for Humanity, UN Chief Warns COP29 Summit

United Nations Secretary-General Antonio Guterres delivers his speech at the UN Climate Change Conference COP29 in Baku, Azerbaijan, 12 November 2024. (EPA)
United Nations Secretary-General Antonio Guterres delivers his speech at the UN Climate Change Conference COP29 in Baku, Azerbaijan, 12 November 2024. (EPA)

United Nations Secretary-General Antonio Guterres told world leaders at the COP29 summit on Tuesday to "pay up" to prevent climate-led humanitarian disasters, and said time was running out to limit a destructive rise in global temperatures.

Nearly 200 nations have gathered at the annual UN climate summit in Baku, focused this year on raising hundreds of billions of dollars to fund a global transition to cleaner energy sources and limit the climate damage caused by carbon emissions.

But on the day of the summit designed to bring together world leaders and generate political momentum for the marathon negotiations, many of the leading players were not present to hear Guterres' message. After victory for Donald Trump, a climate change denier, in the US presidential election, President Joe Biden will not attend. Chinese President Xi Jinping has sent a deputy and European Commission President Ursula von der Leyen is not attending because of political developments in Brussels.

"On climate finance, the world must pay up, or humanity will pay the price," Guterres said in a speech. "The sound you hear is the ticking clock. We are in the final countdown to limit global temperature rise to 1.5 degrees Celsius and time is not on our side."

This year is set to be the hottest on record. Scientists say evidence shows global warming and its impacts are unfolding faster than expected and the world may already have hit 1.5 degree Celsius (2.7 F) of warming above the average pre-industrial temperature - a critical threshold beyond which it is at risk of irreversible and extreme climate change.

As COP29 began, unusual east coast US wildfires that triggered air quality warnings for New York continued to grow. In Spain, survivors are coming to terms with the worst floods in the country's modern history and the Spanish government has announced billions of euros for reconstruction.



China Blacklists 10 US Firms for Involvement in Taiwan Arms Sales

A globe is seen in front of Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
A globe is seen in front of Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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China Blacklists 10 US Firms for Involvement in Taiwan Arms Sales

A globe is seen in front of Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
A globe is seen in front of Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

The Chinese commerce ministry said on Thursday that it had added 10 US companies to its so-called "Unreliable Entity List" for their involvement in arms sales to Taiwan, which China regards as part of its territory, Reuters reported

Effective from Thursday, the blacklisted companies, which include various units of Lockheed and General Dynamics, will be banned from exporting to and importing from China or making new investments in the country, according to the commerce ministry.

According to AFP, they will be prohibited from import and export activities or making new investments in China, while their senior managers will be banned from entering the country, the ministry said.

Last Friday China announced sanctions on seven US military-industrial companies, including Boeing subsidiary Insitu, also over US military assistance to Taiwan.

The self-ruled island is a key point of contention between Beijing and Washington.

China claims Taiwan as part of its territory and has said it will not renounce the use of force to bring it under its control.

Washington does not recognize the democratic island diplomatically but is its strategic ally and largest supplier of weapons.