Investing in new fossil fuels is ‘moral and economic madness’ – UN chief

Investing in new fossil fuels is ‘moral and economic madness’ – UN chief

Investing in new fossil fuel production and power plants is “moral and economic madness”, UN Secretary-General Antonio Guterres has warned.

He was speaking as the Intergovernmental Panel on Climate Change (IPCC) released a major new report warning that the world is heading for temperature rises twice as high as the 1.5C seen as the threshold beyond which the worst impacts of global warming will be felt.

The report from the UN science body called for substantial reductions in the use of fossil fuels, as part of efforts to deliver deep, rapid and immediate greenhouse gas emissions cuts, with a switch to increasingly cheap renewables, electric cars and energy efficiency.