Guterres calls fossil fuel subsidies a suicide for the planet

UN Secretary‑General António Guterres told leaders in Yerevan on Friday that subsidising fossil fuels is a form of suicide for the planet. He warned that these subsidies are boiling the Earth and destroying biodiversity, and urged governments to redirect the money toward people and nature. Guterres made the remarks at a pre‑summit event ahead of the UN biodiversity negotiations that begin on Monday in Armenia. He noted that despite a 2022 pledge to curb spending on mining, fossil‑fuel extraction and intensive farming, little progress has been made. The United Nations estimates that for every dollar spent on protecting or restoring nature, about $30 still flows into activities that damage it. This includes roughly $2.6 trillion in annual public subsidies that harm the climate and ecosystems. Nearly 200 nations will gather in Yerevan to discuss financing gaps for nature. On Thursday Guterres launched a new report that says the world is off track to meet the 2030 biodiversity targets set in the landmark pact for nature. ## Context Globally, subsidies lower the cost of fossil fuel production, encouraging more extraction and use. Reducing them can free up huge sums for conservation and climate action. The upcoming summit aims to shape policies that shift spending from harmful to beneficial activities.