Guterres’ speech on renewables
Guterres is more than confident and speaks of “the dawn of a new era of clean energy”. To understand this, it doesn’t take much effort, just look at the flow of money: last year, 2 trillion US dollars were invested in clean energy, or 800 billion more than investments in fossil fuels, an increase of almost 70% over 10 years. The latest data from the International Renewable Energy Agency shows that solar, not so long ago four times more expensive than fossil fuels, is now 41% cheaper. Offshore wind energy, on the other hand, by 53%. “This change is not just about energy but is a change of opportunity. – says Guterres – the opportunity to repair our relationship with the environment”.
Last year, almost all new installed energy capacity came from renewable sources, and each continent relied more on renewables than fossil fuels. For all these reasons, Guterres said, a future built on clean energy is no longer a promise. It is already a fact. And no government, no industry, no particular interest will be able to stand in its way. “The fossil fuel lobbies will try,” said the UN Secretary-General, “and we know how far they can go, but I have never been so sure that they will fail because we have passed the point of no return.”
According to Guterres, there are several reasons to believe in it and promote this transition: the first is the market economy. For decades, polluting emissions and economic growth have grown hand in hand. This is no longer the case because in many advanced economies emissions have peaked, but growth is not stopping.
In 2023 alone, clean energy contributed 10% to global GDP growth. Clean energy jobs now outnumber fossil fuel jobs, employing 35 million people worldwide. Even Texas, the heart of the U.S. oil industry, is now a leader in renewable energy. “Why did this happen? – he asked himself – Because it makes sense from an economic point of view”.
Yet, fossil fuel use still enjoys a 9-to-1 advantage in subsidies globally, a situation that Guterres says constitutes “a clear market distortion.” Those who are operating this distortion, the United States in the first place, are not protecting the economy, they are sabotaging it, putting competitiveness at risk.
Another reason to invest in renewable energy, as Guterres argues, is energy security, because these sources guarantee energy sovereignty. Today, wars and geopolitical tensions seriously threaten the supply of fossil fuels, and one only has to think of the Russian invasion of Ukraine to realize this.
The third and final reason why there is no turning back on renewable energy, according to the UN Secretary-General, is ease of access. You can’t build a coal-fired power plant in someone’s backyard, but you can supply solar panels to the most remote village in the world. Solar and wind power can be deployed faster, cheaper, and more flexibly than fossil fuels ever could. And while nuclear will continue to be part of the global energy mix, it will never be able to close this gap in ease of access.
