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Guterres demands $1.3trn climate finance for vulnerable nations
UN Secretary-General António Guterres has urged governments to tax fossil-fuel companies’ windfall profits to help vulnerable developing countries recover from climate disasters. Guterres made the call at the COP31 Leaders’ Summit in Antalya, Türkiye, where he proposed a new global Climate Justice Compact. The secretary-general said developing economies outside China accounted for nearly two-thirds of humanity but received less than one-fifth of global clean-energy investment. He warned that many developing countries faced borrowing costs two to three times higher than those confronting wealthier economies. [...]