From the Guardian · · 2m
Fossil fuel crisis spreads inflation like cancer, UN warns at Cop31
At climate talks in Turkey, UN negotiators warn that high oil and gas prices are fuelling global inflation while vulnerable communities bear the cost of climate inaction.
In brief
At climate talks in Turkey, UN negotiators warn that high oil and gas prices are fuelling global inflation while vulnerable communities bear the cost of climate inaction. UN climate negotiator Simon Stiell told Cop31 in Turkey that fossil fuel price spikes are spreading inflation globally, hitting vulnerable…
Fossil fuel prices fuel global inflation
Simon Stiell, the UN's chief climate negotiator, told delegates at Cop31 in Turkey that high fossil fuel prices are spreading inflation around the planet like a cancer.
“spreading inflation like a cancer”
Trump's war disrupts oil supplies
US President Donald Trump's war with Iraq and disruption of the Hormuz strait pushed petrol prices up by fifty percent globally, raising inflation and slowing economic growth.
Vulnerable communities pay the price
Simon Stiell said vulnerable communities are paying the price for global heating and that frustration at a lack of fairness was palpable among delegates.
Climate targets already slipping away
Climate scientists confirmed this year that global heating would reach at least one point eight degrees Celsius, beyond the one point five degree target countries promised to aim for at Paris talks in two thousand…
Glacier collapse kills over one thousand
Less than two months before Cop31, a glacier collapse set off catastrophic flooding in Nepal and Tibet, wiping away villages and killing at least one thousand four hundred fifty nine people, with thousands more still…
Australia pushes electrification goal
Chris Bowen, Australia's climate change minister and president of the negotiations, said countries must work together with urgency and resolve to return to one point five degrees if they act now.
Electricity target for next decade
Turkey and Australia are championing a new voluntary electrification goal to raise electricity's share of final energy consumption from one-fifth to one-third within ten years.
Marshall Islands demands climate finance
Jess Gasper, an environmental official for the Marshall Islands, said it took eight years to get international finance to build a single sea wall and called for urgent money to help vulnerable nations adapt.
“I refuse to accept that we experience displacement because the world fails to act.”
What it means
UN climate negotiator Simon Stiell told Cop31 in Turkey that fossil fuel price spikes are spreading inflation globally, hitting vulnerable communities hardest as climate talks seek faster action on emissions and renewable energy.
