BBC NewsBorrowing was £17.4bn last month, the second highest October figure since monthly records began in 1993.
Dinesh Dhamija calls for urgent action at the upcoming UN Summit of the Future to address the devastating impact of fossil fuels on the planet.
When the world’s political and business leaders gather in New York next month for the UN-sponsored Summit of the Future, they will have to confront an elephant in the room.
Despite record temperatures around the world, with at least 10 countries registering 50 degrees centigrade, rampant wildfires and a mass bleaching of the Great Barrier Reef, the Summit’s pre-announced ‘climate pact’ makes no mention of fossil fuels. This omission brought a scathing response from 77 world leaders and Nobel prize-winners: “The extraction and burning of fossil fuels is the primary cause of the climate crisis, fuelling extreme weather, fires, lethal heat, droughts and flooding that are threatening lives and livelihoods around the planet,” they wrote in a letter to the event organisers.
“Yet this isn’t the end of the carnage – the extraction and burning of fossil fuels undermine all 17 [United Nations] Sustainable Development Goals, including jeopardising public health, fuelling conflict, exacerbating social inequalities and threatening biodiverse ecosystems worldwide.” There is a wilful blindness to the harms of fossil fuels, caused by the mutual dependence of some politicians and big oil and gas companies, and abetted by electorates who are understandably reluctant to pay now for to benefit future generations (even if those beneficiaries include their own grandchildren).
At a time when international cooperation is at a low ebb, with geopolitical tensions and insularity replacing the globalisation of recent years, the world needs a new rationale for multinationalism. What better than something which threatens all of us, and for which there are already proven solutions: renewable energy in the form of solar, wind and new areas such as tidal power generation.
“We call on the UN to ensure that the Pact for the Future includes robust commitments to manage and finance a fast and fair global transition away from coal, oil and gas extraction in line with the 1.5 degrees Celsius limit agreed to by nations in the Paris Agreement,” added the signatories. “If the Summit of the Future does not address the threat of fossil fuels, it will not be worthy of its name, risking undermining a once-in-a-century opportunity to restore trust in the power of international cooperation.” As the consequences of fossil fuel use grow increasingly hazardous to human life, while the remedies are increasingly affordable and accessible, we’re surely approaching a tipping point.
Until then, it’s crucial that voices such as these 77 objectors are heard, heeded and amplified.
Dinesh Dhamija founded, built and sold online travel agency ebookers.com, before serving as a Member of the European Parliament. Since then, he has created the largest solar PV and hydrogen businesses in Romania. Dinesh’s latest book is The Indian Century – buy it from Amazon at https://www.amazon.co.uk/dp/1738441407/
