Taxpayers' money should not be used to subsidise fossil fuels amid COVID-19 recovery: UN chief

UN chief Antonio Guterres said on Thursday that the taxpayers' money should not be used to subsidise fossil fuels or bail out carbon-intensive industries, stressing that revitalisation from the COVID-19 pandemic should accelerate "decarbonisation" of all aspects of the world economy.

The UN Secretary General asserted that the economic recovery from the COVID-19 should go hand-in-hand with climate action.

"COVID-19 continues its path of worsening destruction. We mourn the lives lost more than 200,000. We despair that many more will follow, particularly in places least able to cope," Guterres told reporters.

He stressed that the recovery from the COVID-19 must be such that it helps to steer the world on a safer, healthier, more sustainable and inclusive path.

"It will be critical to address the fragilities, inequalities and gaps in social protection that have been so painfully exposed, and place women and gender equality front and centre if we are to build resilience to future shocks," he said.

"I am calling on Governments to ensure that spending to revitalise economies should accelerate the decarbonisation of all aspects of our economy and privilege the creation of green jobs," the UN Chief said.

"Taxpayers' money should not be used to subsidise fossil fuels or bail out polluting, carbon-intensive industries," he said.

Guterres added that now was the time to put a price on carbon and for polluters to pay for their pollution.

"Public funds should invest in the future, not the past. Financial institutions and investors must take climate risks fully into account," he said.

Guterres also asked all countries, especially the big emitters, to present enhanced Nationally Determined Contributions and strategies to reach net zero emissions by 2050.

While this year's international climate conference has been postponed until 2021, Guterres said the nations' ambition on mitigation, adaptation and finance "cannot be deferred".

Recalling French diplomat and political leader Jean Monnet's words, he said "it is not a time for blind optimism or paralysing pessimism. Now is the time to be determined. Determined to defeat the COVID-19 and to emerge from this crisis by building a better world for all."