The UN chief announced a turning point in the climate fight, urging investment in low-carbon energy as fossil fuels become less viable. Renewable power projects are now cheaper than fossil fuel alternatives, with solar power costing 41% less. This change is driven by increased technology use, focused manufacturing in China, and rising investments, which reached $2 trillion last year. Guterres emphasized the risks of fossil fuels for energy security and called for tech companies to source their power entirely from low-carbon generation by 2030, amid rising energy demand and climate goals.
More than nine in 10 renewable power projects globally are now cheaper than fossil fuel alternatives, with solar power about 41% cheaper than the lowest-cost fossil fuel alternative.
The UN secretary general, Antonio Guterres, stated, 'We are on the cusp of a new era. Fossil fuels are running out of road. The sun is rising on a clean energy age.'
The greatest threat to energy security today is fossil fuels, which leave economies vulnerable to price shocks and supply disruptions, according to Guterres.
Guterres called on big technology companies to commit to sourcing 100% of their electricity demands from low-carbon generation by 2030.
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